We recently published 10 Stocks on Fire Amid Market Chaos. Brighthouse Financial, Inc. is one of the best-performing stocks on Thursday.
Brighthouse Financial soared to a new eight-year high as investors gobbled up shares following news that it was set to be acquired by Aquarian Capital for $4.1 billion.
At intra-day trading, Brighthouse Financial, Inc. jumped to a new high of $66 before paring gains to end the day just up by 26.83 percent at $65.70 apiece.
In a statement, Aquarian Capital announced that it signed a definitive merger agreement with Brighthouse Financial, Inc. for an all-cash acquisition of all its shares at a price of $70 apiece, marking a 35 percent upside from the $51.80 closing price prior to the announcement.
The transaction is expected to close in 2026, subject to customary closing conditions.
In other developments, Brighthouse Financial, Inc. is set to release the results of its third-quarter earnings performance on Friday, November 7, but said it cancelled the conference call scheduled for 8 AM on the same day following the recent signing of the definitive merger agreement.
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This article is originally published at Insider Monkey.
