Prosperity Withdraws Proposal to Acquire American Equity

NEW YORK--(BUSINESS WIRE)--Today, Prosperity Group Holdings LP (“Prosperity”) issued the following statement, regarding its proposal to acquire the common shares of American Equity Investment Life Holding Company (“American Equity”) (NYSE: AEL):

“Prosperity is withdrawing its proposal to acquire American Equity for $45.00 per share. Given American Equity’s refusal to engage and our desire to proceed only on a constructive basis, Prosperity has no interest in continuing to pursue our proposed transaction at this time.”

ABOUT PROSPERITY

The Prosperity Group provides financial security to middle-market consumers through protection, asset accumulation, and supplemental products alongside innovative capital, risk management and asset management solutions for insurance and reinsurance clients. The current platform, which consists of insurance, reinsurance and asset management businesses, has been successfully built since the acquisition by funds affiliated with Elliott Investment Management LP in 2019. For more information, please visit www.prosperitylife.com.