Brighthouse Financial Stock Jumps 26% After This Potential Deal Report: More Details Inside

Brighthouse Financial (BHF) is reportedly expected to receive an offer of $65 to $70 per share by a consortium led by Aquarian Holdings. 

According to a Bloomberg News report, citing people familiar with the matter, a potential deal could likely result in a $4 billion valuation for Brighthouse on an equity basis. Shares of the company jumped as much as 26% during midday trading.

Retail sentiment on Brighthouse remained unchanged in ‘bearish’ territory, with message volumes at ‘high’ levels, according to data from Stocktwits.

The report added that Brighthouse could reach a decision as soon as next week on whether to pursue a sale or continue operating independently. Bloomberg noted that the outcome remains uncertain, as no final decision has been made and talks are still ongoing, with the possibility that they may ultimately collapse.

Aquarian Holdings is collaborating with co-investors, including Mubadala Capital and the Qatar Investment Authority, which will contribute over half of the funding required for the proposed acquisition, the report added.

Last week, Bloomberg reported that companies including Apollo Global Management, Carlyle Group, and TPG have either passed on from the bidding for Brighthouse or dropped out of the process. The report had noted then that this had left only Aquarian, which was holding exclusive talks with Brighthouse.

In January, media reports noted that Brighthouse was exploring options, including a sale. The company was spun off from MetLife back in 2017.

Shares of Brighthouse jumped nearly 20% this year and have gained over 30% in the last 12 months. 

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