Prudential Financial to Buy Assurance IQ for $2.35 Billion
05 September 2019 - 09:27PM
Dow Jones News
By Colin Kellaher
Prudential Financial Inc. (PRU) on Thursday said it agreed to
buy Assurance IQ Inc., a direct-to-consumer platform for health and
financial wellness solutions, for an initial $2.35 billion.
Newark, N.J.-based Prudential said the deal includes an
additional earnout of up to $1.15 billion in cash and equity,
contingent on multi-year growth objectives.
The financial-services company said it will use a combination of
cash on hand, debt financing and equity to fund the acquisition,
which it expects to complete early in the fourth quarter.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
September 05, 2019 07:12 ET (11:12 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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