What's Happening?
Aquarian Capital LLC has announced a definitive merger agreement to acquire Brighthouse Financial, Inc. for $70.00 per share in an all-cash transaction valued at approximately $4.1 billion. This acquisition
aligns with Aquarian Capital's strategic focus on the U.S. retirement market. Brighthouse Financial, a major provider of annuities and life insurance, will continue to operate as a standalone entity within Aquarian Capital's portfolio. The transaction is expected to close in 2026, subject to customary closing conditions, including stockholder and regulatory approvals.
Why It's Important?
The acquisition of Brighthouse Financial by Aquarian Capital is significant for the U.S. retirement market, as it positions Brighthouse Financial to pursue strategic growth opportunities and enhance its ability to serve customers and stakeholders. Aquarian Capital plans to invest in Brighthouse Financial's platform and distribution franchise, potentially boosting product design and innovation. This move could strengthen Brighthouse Financial's market position and provide value to its stockholders, while also impacting the broader insurance and asset management industries.
What's Next?
Following the acquisition, Brighthouse Financial will continue to operate under its current name and brand, with Eric Steigerwalt remaining as President and CEO. The company will focus on strategic growth opportunities and enhancing its investment management capabilities through a relationship with Aquarian Investments. The transaction is expected to close in 2026, pending stockholder and regulatory approvals. Brighthouse Financial will file a current report with the SEC detailing the merger agreement.
