Brighthouse stock jumps on news about progress in Aquarian's intended acquisition

[M&A - concept waiting for mergers and acquisitions.3D rendering on yellow background.]

Brighthouse Financial (NASDAQ:BHF [https://seekingalpha.com/symbol/BHF]) stock was surging as the private capital group Aquarian was said to be in late-stage discussions with investors for financing its takeover of the insurer.

Aquarian is planning to submit a final offer for the Charlotte, NC-based insurer as early as this week, the _Financial Times [https://www.ft.com/content/4ea07d0f-62f7-4b4b-b4ba-badbb9dcb861]_ reported on September 8.

Shares were +13.19% pre-market to $49.10.

In June, BHF had reportedly drawn final takeover bids [https://seekingalpha.com/news/4461863-brighthouse-financial-stock-drops-after-report-insurer-attracts-final-bids-from-tpg-aquarian] from Wall Street firms TPG (TPG [https://seekingalpha.com/symbol/TPG]) and Aquarian Holdings.

In July, Aquarian was said to be in exclusive talks [https://seekingalpha.com/news/4467763-brighthouse-financial-stock-jumps-on-report-of-exclusive-buyout-talks-with-aquarian] to buy the provider of annuities and life insurance.

Aquarian is in advanced discussions with Abu Dhabi's Mubadala Capital, Qatar Investment Authority, and other investors to raise over $3B in equity backing for the acquisition, two people briefed on the matter told the _FT_.

Aquarian is willing to purchase Brighthouse Financial at a significant premium to its current trading price, and equity backing was reportedly the final hurdle for the private capital group to proceed with the acquisition offer, according to the _FT._

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