Equitable Holdings, Inc. announced on April 1, 2025, the preliminary results of its cash tender offer for units of AllianceBernstein Holding L.P. A total of 19,766,878 units were properly tendered and not properly withdrawn by the expiration time.
Equitable expects to accept all tendered units for an aggregate cost of approximately $761.0 million, excluding fees and expenses. This purchase represents approximately 17.9% of AllianceBernstein Holding's outstanding units as of December 31, 2024.
Upon completion of this purchase, Equitable Holdings' economic interest in AllianceBernstein L.P. will increase to approximately 68.6%. This move reinforces Equitable's strategic commitment to its asset management business and is expected to enhance future earnings capture from this segment.
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