お知らせ • Nov 06
Aquarian Holdings, LLC entered into an Agreement and Plan of Merger to acquire Brighthouse Financial, Inc. (NasdaqGS:BHF) for approximately $4.1 billion.
Aquarian Holdings, LLC entered into an Agreement and Plan of Merger to acquire Brighthouse Financial, Inc. (NasdaqGS:BHF) for approximately $4.1 billion on November 6, 2025. Under the terms of the merger agreement, each issued and outstanding share of Brighthouse Financial common stock will be entitled to receive $70.00 in cash. The all-cash transaction valued at approximately $4.1 billion. The merger consideration will be funded with committed financing without incremental debt financing at the Aquarian Capital insurance businesses or Brighthouse Financial. The receipt of financing by Aquarian Capital is not a condition precedent to the completion of the transaction. Buy side termination fee is $225.5 million and sell side termination fee is $143.5 million.
The consummation of the Merger is subject to target shareholder approval, the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, the receipt of other required regulatory approvals from insurance regulators in Delaware, New York and Massachusetts, receipt of approval from Financial Industry Regulatory Authority, Inc. The transaction has been unanimously approved by the boards of the acquirer and target. The transaction is expected to close in 2026.
RBC Capital Markets LLC is serving as exclusive financial advisor, Todd Freed, Patrick Lewis, Chris Ulery, Joe Penko and Dwight Yoo of Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor and Milliman, Inc. and Oliver Wyman are serving as actuarial advisors to Aquarian Capital. Wells Fargo and Goldman Sachs & Co. LLC are serving as financial advisors and fairness opinion providers, Nicholas F. Potter, Andrew G. Jamieson, Dominique Trudelle, J. Michael Snypes, Peter Loughran, Benjamin Pedersen, Daniel Priest, Sheena Paul, Sunil Savkar, Lachlan Conroy, Gary Murphy, Jonathon Yeung, Jeff Robins, Susan Reagan Gittes, Rick Sofield and Tim Cornell of Debevoise & Plimpton LLP is serving as legal advisor and Milliman, Inc. is serving as actuarial advisor to Brighthouse Financial.