Brighthouse Financial Stock Carries $70 Cash Tag, But Market Holds Back
Brighthouse Financial shares stayed under the $70-a-share deal price from Aquarian Capital before Thursday’s Nasdaq open. The stock was last at $62.40, well below the agreed cash offer to take the insurer private. The deal spread was roughly 11%. Brighthouse didn’t update the takeover terms in its latest filing. A June 3 Form 8-K said stockholders picked nine directors, okayed Deloitte & Touche as auditor and gave an advisory nod to executive pay after the annual meeting on June 2.