Brighthouse Financial stock surges after WSJ report on potential Aquarian deal

Investing.com -- Brighthouse Financial (NASDAQ: BHF) stock surged 10% in after-hours trading Tuesday following a Wall Street Journal report that investment firm Aquarian Holdings is in exclusive talks to acquire the U.S. life insurance company.

According to people familiar with the matter, a deal could be finalized in the coming weeks, barring any last-minute complications. The report indicates this development marks the conclusion of a competitive bidding process that had attracted interest from several major private-equity firms.

TPG, reportedly the other finalist in the acquisition process, had been pursuing a structured deal involving only certain parts of Brighthouse rather than a complete purchase. However, according to a source familiar with the situation, TPG was unable to reach an agreement and did not submit a final bid.

You May Also Be Interested In

• Rubio asked if Greenland is part of Denmark: "for now"
• Canada intends to extend steel and aluminum tariff measures
• FG Merger II sets stockholder vote on BOXABL merger for June 9