Manufacturing Industry
AEGON N.V. - AEGON and Merrill Lynch announce strategic relationship.
PR Newswire UK Disclose, August, 2007
The Hague / New York, August 13, 2007
AEGON and Merrill Lynch announce strategic relationship;
AEGON to acquire Merrill Lynch Life Insurance Companies
AEGON (AEX: AGN/NYSE: AEG) and Merrill Lynch (NYSE: MER) today announced they
will form a strategic business relationship in the areas of insurance and
investment products. As part of this relationship, an AEGON company has signed
an agreement to acquire Merrill Lynch Life Insurance Company and ML Life
Insurance Company of New York for USD 1.3 billion in cash. The purchase price
includes excess surplus of approximately USD 425 million. The transaction is
expected to close before the end of the fourth quarter of 2007, subject to
customary regulatory approvals and closing conditions.
Merrill Lynch will continue to...
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