
Shares of life insurer Brighthouse Financial BHF.O rise 20.3% to $54.93 in early trading
Aquarian Holdings in advanced talks to take private U.S. life insurer Brighthouse Financial in $4 billion deal, Financial Times reports, equating to $69.98 per share according to Reuters' calculation
Reuters earlier reported Aquarian would pay $70 per share; Sixth Street also explored the deal after talks cooled in September
Aquarian, backed by Abu Dhabi's Mubadala and RedBird Capital Partners, focuses on insurance and asset management
Brighthouse, Aquarian and Sixth Street did not immediately respond to requests for comment
Among 10 analysts covering BHF, average rating is "hold"; median PT at $53
BHF stock down 4.89% YTD, as of last close