WASHINGTON (dpa-AFX) - Prudential Financial, Inc. (PRU) has agreed to acquire Assurance IQ, Inc., a direct-to-consumer platform, for a total upfront consideration of $2.35 billion, plus an additional earnout of up to $1.15 billion in cash and equity. Prudential Financial expects the acquisition to be modestly accretive to EPS and ROE starting in 2020.
Also, Prudential said its Board has authorized a $500 million increase to its share repurchase authorization for calendar year 2019. The current share repurchase authorization for the full year is $2.5 billion.
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