Sixth Street said to bid $55 per share for Brighthouse Financial

Investing.com -- Sixth Street is in discussions to acquire Brighthouse Financial after negotiations with Aquarian Holdings cooled last month, according to a Reuters report on Thursday.

The talks with Sixth Street and its insurance affiliate, Talcott, were recently revived following weeks of exclusive negotiations between Brighthouse and Aquarian. The Brighthouse board ended up rejecting Aquarian’s bid.

Sixth Street’s offer values Brighthouse at approximately $55 per share, representing a total valuation of around $3.14 billion, according to the report. The price is lower than Aquarian’s old proposal of nearly $70 per share, but still represents a premium over Brighthouse’s closing share price on Wednesday.

There is no guarantee that negotiations will result in an agreement, the report added.

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