Brookfield Shareholders Back New BN Deal as Firm Targets 20% Earnings Growth

Brookfield shareholders approved a major transaction to combine Brookfield Corporation and Brookfield Wealth Solutions into a single publicly traded entity, “New BN,” pending remaining court, shareholder, and regulatory approvals.

The deal is expected to close in late fourth quarter 2026.

The company said the combination should simplify Brookfield’s structure, improve capital efficiency, and potentially broaden global index inclusion by giving the insurance business direct access to Brookfield’s large permanent capital base.

Management outlined a strong growth outlook, saying Brookfield is positioned to grow earnings by more than 20% annually over the next five years, with distributable earnings expected to rise from $2.54 per share now to $5.85 per share by 2030 before capital allocation benefits.

Brookfield NYSE: BN shareholders approved a key transaction resolution at the company’s annual and special meeting, advancing a plan to combine Brookfield Corporation and Brookfield Wealth Solutions Ltd. under a single publicly traded company referred to during the meeting as New BN.

Frank McKenna, chair of Brookfield’s board, said the transaction is intended to “further simplify our corporate structure, create a more capital-efficient platform to support Brookfield’s long-term growth, and open a path to broader global index inclusion.”

He described the combination as “the next evolution of Brookfield as a globally diversified and fully integrated insurance and investment organization.”

The vote was held pursuant to an order of the Ontario Superior Court of Justice.

McKenna said the final court hearing to approve the transaction is scheduled for July 21, 2026, and that the deal is expected to close in late fourth quarter 2026, subject to customary closing conditions, including approval by Brookfield Wealth Solutions shareholders and other legal and regulatory approvals.

At the formal portion of the meeting, Brookfield shareholders elected 16 directors.

The nominees for Class A limited voting shareholders were Elyse Allan, Ang Eng Seng, Janice Fukakusa, Maureen Kempston Darkes, Frank McKenna, Hutham Olayan, Satish Rai and Diana Taylor.

The nominees for Class B limited voting shareholders were Howard Marks, Rafael Miranda, Lord Gus O'Donnell, Jeffrey Blidner, Jack Cockwell, Bruce Flatt, Brian Lawson and Sam Pollock.

McKenna said 15 of the 16 nominees had been elected at the prior annual general meeting in June 2025 and were standing for re-election.

Ang Eng Seng, a current director, was appointed by the board on Feb. 11, 2026, and stood for re-election at the meeting.

Shareholders also approved the reappointment of Deloitte LLP as Brookfield’s external auditor and authorized the directors to set its remuneration.

An advisory resolution on the company’s approach to executive compensation was also carried.

Several resolutions connected to the proposed transaction were also considered, including share option and escrowed stock plans for New BN and Brookfield Canada Corporation, referred to as New BNC.

The meeting operator said formal declarations on the New BN share option plan, New BN escrowed stock plan, New BNC escrowed stock plan and New BNC share option plan would be made after the Brookfield Wealth Solutions shareholder meeting later in the day.

Final voting results are expected to be posted to SEDAR+.

Following the formal meeting, Nicholas Goodman, Brookfield’s president and chief financial officer, reviewed the company’s financial performance and stra...