Summary
MetLife, Inc. (MET) filed an 8-K on November 29, 2010, reporting on the completion of its acquisition of American Life Insurance Company and Delaware American Life Insurance Company (ALICO) from AIG. The acquisition, finalized on November 1, 2010, involved a total consideration of $16.4 billion, comprising $7.2 billion in cash and $9.2 billion in MetLife securities. This filing also includes updated financial information pertaining to the acquired ALICO entities and pro forma financial statements reflecting the impact of this significant transaction on MetLife's financial position and operations.
Key Highlights
- 1MetLife Inc. has officially completed the acquisition of ALICO (American Life Insurance Company and Delaware American Life Insurance Company) on November 1, 2010.
- 2The total purchase price for ALICO was $16.4 billion.
- 3The consideration paid included $7.2 billion in cash and $9.2 billion in MetLife, Inc. common stock.
- 4The filing provides unaudited condensed combined financial statements for ALICO.
- 5Unaudited pro forma condensed combined financial statements for MetLife, Inc., reflecting the ALICO acquisition, are included.
- 6These financial statements offer insight into the financial standing of ALICO and the projected combined entity post-acquisition.