(Adds details on deal in paragraphs 2 and 3)
July 5 (Reuters) -
Canadian investment firm Brookfield's reinsurance arm has agreed to buy American Equity Investment Life Holding in a deal worth about $4.3 billion, the companies said on Wednesday.
The cash-and-stock offer of $55 per share by the firm was initially submitted in late June. It consists of $38.85 in cash and the rest in Brookfield Asset Management's shares, the companies said in a statement.
AEL, which provides annuities - an insurance contract customers typically buy for a steady income stream after retiring - will go private once the deal closes in the first half of next year. (Reporting by Manya Saini in Bengaluru; Editing by Nivedita Bhattacharjee)
