MergerMay 7, 2026, 04:43 PM
Brighthouse Financial to Merge, Shareholders Get $70/Share Cash
AI Summary
Brighthouse Financial, Inc. announced a merger agreement with Aquarian Holdings VI L.P., under which Brighthouse Financial will become a wholly-owned subsidiary of Aquarian Parent, and shareholders will receive $70.00 per share in cash. Concurrently, the company reported its Q1 2026 financial results, showing a widened net loss attributable to common shareholders of $(792) million, compared to $(294) million in Q1 2025. Total revenues also decreased significantly, while total adjusted earnings saw a slight increase.
Key Highlights
- Brighthouse Financial will merge with Aquarian Holdings VI L.P., with shareholders receiving $70.00 per share in cash.
- Net loss attributable to common shareholders widened to $(792) million in Q1 2026 from $(294) million in Q1 2025.
- Basic EPS was $(13.82) in Q1 2026, compared to $(5.04) in Q1 2025.
- Total revenues decreased to $1,527 million in Q1 2026 from $2,390 million in Q1 2025.
- Total adjusted earnings increased to $239 million in Q1 2026 from $235 million in Q1 2025.
- Annuities segment adjusted earnings were $324 million in Q1 2026, up from $314 million in Q1 2025.
- Life segment adjusted earnings were $(6) million in Q1 2026, down from $9 million in Q1 2025.
- Total assets were $236,803 million at March 31, 2026, down from $241,800 million at December 31, 2025.