What Happened?

Shares of insurance and annuity provider Brighthouse Financial (NASDAQ: BHF) jumped 30% in the afternoon session after reports emerged that the company was in advanced talks to be acquired by a consortium led by Aquarian Holdings at a significant premium. 

The potential deal, reported by multiple news outlets, involved an offer price between $65 and $70 per share. This price tag represented a hefty jump over the stock's previous closing price of around $45. The suitor, Aquarian Holdings, a firm focused on insurance and asset management, was reportedly backed by major investors, including RedBird Capital Partners and the Abu Dhabi state fund Mubadala. 

While sources indicated the talks were advanced, they also cautioned that a final agreement was not yet guaranteed. The market reacted with strong optimism to the possibility of a buyout, sending shares soaring as investors priced in the potential acquisition.

The shares closed the day at $57.55, up 27.2% from previous close.

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What Is The Market Telling Us

Brighthouse Financial’s shares are quite volatile and have had 18 moves greater than 5% over the last year. But moves this big are rare even for Brighthouse Financial and indicate this news significantly impacted the market’s perception of the business.

The previous big move we wrote about was 10 days ago when the stock gained 10.1% on the news that reports revealed that private capital group Aquarian Holdings is advancing its plans to acquire the life insurer. 

According to a report from the Financial Times, Aquarian is in late-stage discussions with two large Middle Eastern investors to secure the necessary equity financing for the potential deal. The prospect of an acquisition is driving significant investor interest, as such deals often involve a premium over the current stock price. The stock was already showing strength in premarket trading following the emergence of the news.

Brighthouse Financial is up 20% since the beginning of the year, and at $57.59 per share, it is trading close to its 52-week high of $62.97 from February 2025. Investors who bought $1,000 worth of Brighthouse Financial’s shares 5 years ago would now be looking at an investment worth $2,172.

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