(RTTNews) - Investment firm Brookfield Corporation (BN) and its insurance arm Brookfield Wealth Solutions Ltd. (BNT) said shareholders have approved a merger that will simplify the group's corporate structure and create a single publicly listed parent company.
Upon completion of the transaction, Brookfield Corporation Ltd. will become the group's new parent entity and will be listed on both the Toronto Stock Exchange and the New York Stock Exchange under the ticker symbol BN. Brookfield Wealth Solutions Ltd. will be delisted as part of the restructuring.
The transaction remains subject to customary closing conditions and regulatory approvals and is expected to be completed by the end of 2026.
Brookfield Corporation shares closed down 0.38% at $44.30 on Thursday, while Brookfield Wealth Solutions shares ended 0.63% lower at $44.31.
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