Aegon Acquires Transamerica in $9.7 Billion Deal

Aegon N.V., the parent company of Aegon USA Inc., has announced an agreement to acquire San Francisco-based insurance giant Transamerica Corp. in a massive cash and stock deal valued at $9.7 billion. This move marks the second-largest acquisition in the US life insurance industry to date. The corporate and insurance operations of Transamerica will merge with Aegon's operations after closing, which is expected to occur during the summer.

Key Takeaways:

• Aegon N.V. has signed an agreement to acquire Transamerica Corp. in a cash and stock deal valued at $9.7 billion, making it the second-largest acquisition in the US life insurance industry to date.
• The deal includes Aegon assuming approximately $1.1 billion of Transamerica's holding company debt on a consolidated basis.
• The merger is expected to take place during the summer, with Transamerica's corporate and insurance operations merging with Aegon's operations immediately after closing.
• Aegon USA Inc. is the US-based subsidiary of Aegon N.V., which is a Netherlands-based insurance giant.
• The acquisition is part of Aegon's plans to expand its presence in the US life insurance market.

Statistics:

• The deal is valued at $9.7 billion, making it the second-largest acquisition in the US life insurance industry to date.
• Aegon will assume approximately $1.1 billion of Transamerica's holding company debt on a consolidated basis.
• The deal is expected to be completed during the summer, with the exact date TBD.

Sources:

• "Aegon buys Transamerica", United Press International, February 18.