Equitable Holdings to purchase 46M units of AllianceBernstein at $38.50 per unit

Equitable Holdings (EQH) announced that it has commenced a cash tender offer to purchase up to 46M units representing assignments of beneficial ownership of limited partnership interests in AllianceBernstein Holding L.P. (AB) at a price of $38.50 per Unit, net to the seller in cash, for an aggregate purchase price of up to approximately $1.8B, less any applicable tax withholding, representing a 7.8% premium over AB Holding’s closing price per Unit on the New York Stock Exchange on February 21. The number of Units proposed to be purchased in the Offer represents approximately 41.7% of AB Holding’s currently outstanding Units. The Offer is being made upon the terms and subject to the conditions set forth in the Offer to Purchase and the related Letter of Transmittal, each dated February 24. The Offer is scheduled to expire at 5:00 p.m., New York City time, on March 24, unless the Offer is extended. Any extension of the Offer will be announced publicly no later than 9:00 a.m., New York City time, on the next business day after the previously scheduled Expiration Time.