Aquarian Capital affiliate to buy Brighthouse Financial in $4.1bn all-cash deal

Aquarian Capital’s affiliate is acceptable to get US-based beingness security and annuity supplier Brighthouse Financial successful an all-cash transaction valued astatine astir $4.1bn.

Brighthouse Financial’s shareholders volition person $70 per share.

The deal, formalised done a definitive merger agreement, is expected to reason successful 2026 pending regulatory and shareholder approvals.

Upon completion, Brighthouse Financial volition run arsenic a stand-alone institution wrong Aquarian Capital's portfolio.

Brighthouse Financial's existent CEO and president, Eric Steigerwalt, is expected to stay successful his position, and the institution volition clasp its name, marque and North Carolina headquarters.

The acquisition terms represents a 37% premium implicit Brighthouse Financial’s closing stock terms of $51.09 connected 27 January 2025, arsenic good arsenic a 37.7% premium implicit the company’s 90-day volume-weighted mean terms arsenic of 5 November 2025.

Aquarian Capital has outlined plans to enactment Brighthouse Financial's level and organisation web and aims to heighten merchandise innovation and concern absorption done collaboration with its concern absorption platform, Aquarian Investments.

Brighthouse Financial’s Board of Directors has granted unanimous support for the merger statement and recommended that shareholders ballot successful favour of the deal.

The transaction is taxable to customary closing conditions including antitrust clearance and security regulatory approvals.

Steigerwalt said: “This transformative transaction marks an breathtaking caller section for Brighthouse Financial and is the culmination of a process initiated by our Board of Directors earlier this year.

“As 1 of the largest providers of annuities and beingness security successful the US, we are thrilled to spouse with Aquarian Capital to proceed to present connected our ngo of helping radical execute fiscal information done our best-in-class organisation franchise, arsenic good arsenic our innovative suite of Shield annuity products, and our enactment with BlackRock connected LifePath Paycheck.”

RBC Capital Markets is acting arsenic exclusive fiscal advisor to Aquarian Capital, with Skadden, Arps, Slate, Meagher & Flom providing ineligible counsel, and Milliman and Oliver Wyman serving arsenic actuarial advisors.

Wells Fargo and Goldman Sachs & Co are advising Brighthouse Financial connected the transaction, on with ineligible advisor Debevoise & Plimpton and actuarial advisor Milliman.

"Aquarian Capital affiliate to bargain Brighthouse Financial successful $4.1bn all-cash deal" was primitively created and published by Life Insurance International, a GlobalData owned brand.