Brighthouse Financial Inc (NASDAQ:BHF) stock surged 31% to $59.10 mid-day Friday following reports from multiple news agencies that Aquarian Holdings is in advanced talks to acquire the life insurance and annuity provider for up to $70 per share.
The potential acquisition, reported by both Bloomberg and Reuters, would value Brighthouse at a significant premium to its previous trading price. Aquarian Holdings, a holding company focused on insurance and asset management businesses, is backed by investors including RedBird Capital Partners and Abu Dhabi state fund Mubadala.
While negotiations appear to be progressing, sources familiar with the matter cautioned that the final price could still fluctuate slightly and there is no guarantee that a definitive agreement will be reached. The current discussions center on a price range between $65 and $70 per share, according to an earlier Bloomberg News report. Reuters said the deal was worth approximately $70 per share.
Brighthouse Financial, which was spun off from MetLife in 2017, offers life insurance and annuity products in the U.S. market. The company has been working to strengthen its position in the competitive insurance sector.
Since early 2025, takeover talks have surrounded Brighthouse with private equity firms like Sixth Street, Carlyle, and TPG also in the mix before Aquarian pulled ahead in the bidding in July.
The potential deal comes amid ongoing consolidation in the insurance industry as companies seek scale and operational efficiencies in a challenging market environment.
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