Brighthouse

AQUARIAN Nears Agreement to Acquire Brighthouse

Brighthouse Financial (NASDAQ:BHF) experienced an 8.3% drop in stock price following reports of final takeover bids from TPG and Aquarian Holdings, both offering a slight premium to its market value. The insurer, with a market cap of $3.38B, previously attracted interest from firms like Apollo Global Management and Blackstone, but they have since exited the bidding process. A decision on exclusivity for negotiations is expected soon, with Brighthouse potentially opting against a sale if bids do not meet its valuation targets.

Brighthouse Financial stock drops after report insurer attracts final bids from TPG, Aquarian

Bogart Wealth LLC reduced its stake in Brighthouse Financial, Inc. (NASDAQ:BHF) by 2.6%, selling 5,389 shares during Q1, leaving it with 204,940 shares valued at approximately $11.88 million. Other institutional investors, including Canada Pension Plan and AQR Capital Management, have increased their holdings in BHF. The stock opened at $48.79, with a market cap of $2.80 billion and a P/E ratio of 5.85. Analysts have mixed ratings on the stock, with a consensus rating of "Hold" and an average price target of $60.60.

Bogart Wealth LLC Sells 5,389 Shares of Brighthouse Financial, Inc. (NASDAQ:BHF)

Brighthouse Financial has narrowed its potential buyers to TPG and Aquarian Holdings, both of which are in the final bidding round for the U.S. life insurer. Final bids are expected in early July, but a deal may take weeks or months due to complex due diligence. Other interested parties included Sixth Street and Jackson Financial, but TPG and Aquarian are best positioned to acquire the entire company. Brighthouse, spun out of MetLife in 2017, has been exploring a sale throughout the year, with its market value around $3.4 billion.

AQUARIAN Nears Agreement to Acquire Brighthouse

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