Exhibit 99.1
Equitable Holdings Announces Cash Tender Offer for Up to 46,000,000 Units of
AllianceBernstein Holding
New York, NY, February 24, 2025 — Equitable Holdings, Inc. (NYSE: EQH), the leading financial services holding company of Equitable, AllianceBernstein and Equitable Advisors, today announced that it has commenced a cash tender offer to purchase up to 46,000,000 units (“Units”) representing assignments of beneficial ownership of limited partnership interests in AllianceBernstein Holding L.P. (NYSE: AB) (“AB Holding”), at a price of $38.50 per Unit, net to the seller in cash, for an aggregate purchase price of up to approximately $1.8 billion, less any applicable tax withholding (the “Offer”), representing a 7.8% premium over AB Holding’s closing price per Unit on the New York Stock Exchange on February 21, 2025. 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, 2025.
Equitable is making this Offer in order to increase its interest in AllianceBernstein L.P. (“AB”), the operating partnership of AB Holding, through the acquisition of Units, and to provide unitholders of AB Holding with an opportunity to obtain liquidity with respect to all or a portion of their Units at a premium to the market prices at which the Units were trading prior to the commencement of the Offer. As of the date of the Offer to Purchase, Equitable does not own any of the outstanding Units, however, Equitable owns, directly and through its subsidiaries an approximate 61.9% interest in AB (through ownership of both general partnership interests in AB Holding and AB and units of limited partnership interests in AB). If Equitable purchases the maximum of 46,000,000 Units in the Offer, Equitable will have an approximate 77.5% economic interest in AB.
If more than 46,000,000 Units are properly tendered and not properly withdrawn, Equitable will purchase the Units on a pro rata basis. In that case, Units that are not purchased will be returned to unitholders.
The Offer is scheduled to expire at 5:00 p.m., New York City time, on March 24, 2025 (the “Expiration Time”), 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.
The Offer is not conditioned upon the receipt of financing or any minimum number of Units being tendered. The Offer is, however, subject to certain other customary terms and conditions, which are specified in the Offer to Purchase.
Unitholders interested in tendering their Units must do so in accordance with the procedures set forth in the Offer to Purchase and related Letter of Transmittal. Complete terms and conditions of the Offer are set forth in the Offer to Purchase, Letter of Transmittal and other related materials, which are being filed today by Equitable with the Securities and Exchange Commission (“SEC”).
Copies of the Offer to Purchase, Letter of Transmittal and other related materials are available free of charge from D.F. King & Co., Inc. (“D.F. King”), the information agent for the Offer (the “Information Agent”). Questions regarding the Offer and requests for assistance in connection with the Offer may be directed to D.F. King by telephone at (800) 848-3402 (toll-free). Banks and brokers may contact D.F. King at (212) 269-5550 or Barclays Capital Inc., the dealer manager for the Offer (the “Dealer Manager”), at (800) 438-3242 (toll-free). Computershare Trust Company, N.A. is acting as depositary and paying agent for the Offer (the “Depositary and Paying Agent”).
