Brighthouse (BHF) Hits New High on Aquarian's $4.1-Billion Buyout Bid

We recently published 10 Stocks on Fire Amid Market Chaos. Brighthouse Financial, Inc. (NASDAQ:BHF) 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. (NASDAQ:BHF) 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. (NASDAQ:BHF) 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. (NASDAQ:BHF) 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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Disclosure: None. This article is originally published at Insider Monkey.