Brighthouse Financial Recommends Shareholders Reject 'Mini-Tender' Offer by Potemkin Limited
CHARLOTTE, N.C.--(BUSINESS WIRE)--Brighthouse Financial, Inc. ('Brighthouse Financial' or the 'company') (Nasdaq: BHF) announced today that it has received notice of an unsolicited 'mini-tender' offer made by Potemkin Limited ('Potemkin') to Brighthouse Financial shareholders to purchase up to 100,000 shares of Brighthouse Financial's common stock at a price of $36.00 per share. This means that Brighthouse Financial shareholders who tender their shares in the offer will receive a price significantly below the current market price for the company's common stock and which is an approximate 41.12% discount to the closing price of the company's common stock as of May 19, 2025 ($61.14 per share).
Brighthouse Financial does not endorse Potemkin's unsolicited mini-tender offer and is not affiliated or associated in any way with Potemkin, its mini-tender offer or the offer documentation. Brighthouse Financial recommends that shareholders do not tender their shares in response to Potemkin's offer because the offer is at a price that is significantly below the current market value of Brighthouse Financial's common stock.
The offer is currently scheduled to expire at 5:00 p.m., New York City time, on September 16, 2025, unless extended or earlier revoked by Potemkin. Shareholders who tender their shares may withdraw them in the manner described in Potemkin's offering documents.
A mini-tender offer is an offer for less than 5% of a company's shares and is therefore not subject to the disclosure and procedural requirements required by the U.S. Securities and Exchange Commission ('SEC') for larger tender offers. As a result, mini-tender offers do not provide investors with the same level of protections under U.S. securities laws that are provided for larger tender offers. The SEC has cautioned investors about mini-tender offers, providing guidance to investors at https://www.sec.gov/investor/pubs/minitend.htm.
Brighthouse Financial encourages brokers and dealers, as well as other market participants, to review the SEC's letter regarding broker-dealer mini-tender offer dissemination and disclosures at https://www.sec.gov/divisions/marketreg/minitenders/sia072401.htm and the NASD Notice to Members 99-53 issued in July 1999 regarding guidance to members forwarding mini-tender offers to their customers, which can be found at https://www.finra.org/sites/default/files/NoticeDocument/p004221.pdf.
Shareholders should obtain current market quotations for their shares of Brighthouse Financial common stock, consult with their broker or financial advisor and exercise caution with respect to Potemkin's mini-tender offer.
Brighthouse Financial requests that a copy of this news release be included with all distributions of materials relating to Potemkin's mini-tender offer related to Brighthouse Financial's common stock.
About Brighthouse Financial, Inc.
Brighthouse Financial, Inc. (Brighthouse Financial) (Nasdaq: BHF) is on a mission to help people achieve financial security. As one of the largest providers of annuities and life insurance in the U.S., 1 we specialize in products designed to help people protect what they've earned and ensure it lasts. Learn more at brighthousefinancial.com.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
30 minutes ago
- Yahoo
Vertiv Holdings Co. (VRT) Stock Dips While Market Gains: Key Facts
The most recent trading session ended with Vertiv Holdings Co. (VRT) standing at $108.47, reflecting a -3.15% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 0.55%. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq gained 0.63%. The company's shares have seen an increase of 10.84% over the last month, not keeping up with the Computer and Technology sector's gain of 11.3% and outstripping the S&P 500's gain of 6.29%. The investment community will be closely monitoring the performance of Vertiv Holdings Co. in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.82, marking a 22.39% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $2.27 billion, indicating a 16.48% increase compared to the same quarter of the previous year. VRT's full-year Zacks Consensus Estimates are calling for earnings of $3.55 per share and revenue of $9.51 billion. These results would represent year-over-year changes of +24.56% and +18.71%, respectively. Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Vertiv Holdings Co. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system. The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Vertiv Holdings Co. presently features a Zacks Rank of #3 (Hold). Looking at valuation, Vertiv Holdings Co. is presently trading at a Forward P/E ratio of 31.57. This indicates a premium in contrast to its industry's Forward P/E of 19.39. We can additionally observe that VRT currently boasts a PEG ratio of 1.16. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Computers - IT Services was holding an average PEG ratio of 2.14 at yesterday's closing price. The Computers - IT Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 87, putting it in the top 36% of all 250+ industries. The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. To follow VRT in the coming trading sessions, be sure to utilize Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Vertiv Holdings Co. (VRT) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30 minutes ago
- Yahoo
New Gold (NGD) Stock Declines While Market Improves: Some Information for Investors
In the latest market close, New Gold (NGD) reached $4.76, with a -2.06% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.55%. Elsewhere, the Dow saw an upswing of 0.25%, while the tech-heavy Nasdaq appreciated by 0.63%. Shares of the gold mining company witnessed a gain of 27.56% over the previous month, beating the performance of the Basic Materials sector with its gain of 4.58% and the S&P 500's gain of 6.29%. The investment community will be closely monitoring the performance of New Gold in its forthcoming earnings report. The company is expected to report EPS of $0.08, up 300% from the prior-year quarter. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.39 per share and revenue of $1.31 billion. These totals would mark changes of +95% and +41.21%, respectively, from last year. Investors might also notice recent changes to analyst estimates for New Gold. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook. Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system. Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.96% higher. As of now, New Gold holds a Zacks Rank of #3 (Hold). Looking at its valuation, New Gold is holding a Forward P/E ratio of 12.46. For comparison, its industry has an average Forward P/E of 12.99, which means New Gold is trading at a discount to the group. The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 39, positioning it in the top 16% of all 250+ industries. The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Don't forget to use to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report New Gold Inc. (NGD) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
30 minutes ago
- Yahoo
Stitch Fix (NASDAQ:SFIX) Delivers Impressive Q1, Full-Year Sales Guidance is Optimistic
Personalized clothing company Stitch Fix (NASDAQ:SFIX) reported Q1 CY2025 results beating Wall Street's revenue expectations , but sales were flat year on year at $325 million. On top of that, next quarter's revenue guidance ($300.5 million at the midpoint) was surprisingly good and 4.3% above what analysts were expecting. Its GAAP loss of $0.06 per share was 45% above analysts' consensus estimates. Is now the time to buy Stitch Fix? Find out in our full research report. Revenue: $325 million vs analyst estimates of $314.6 million (flat year on year, 3.3% beat) EPS (GAAP): -$0.06 vs analyst estimates of -$0.11 (45% beat) Adjusted EBITDA: $11.01 million vs analyst estimates of $9 million (3.4% margin, 22.4% beat) Revenue Guidance for Q2 CY2025 is $300.5 million at the midpoint, above analyst estimates of $288 million EBITDA guidance for the full year is $45 million at the midpoint, above analyst estimates of $43.93 million Operating Margin: -3%, up from -7.7% in the same quarter last year Free Cash Flow Margin: 4.9%, similar to the same quarter last year Active Clients: 2.35 million, down 280,000 year on year Market Capitalization: $609.2 million 'Stitch Fix delivered strong third quarter results, marked by our overall return to year-over-year revenue growth,' said Matt Baer, CEO, Stitch Fix. One of the original subscription box companies, Stitch Fix (NASDAQ:SFIX) is an online personal styling and fashion service that curates personalized clothing selections for customers. Reviewing a company's long-term sales performance reveals insights into its quality. Any business can experience short-term success, but top-performing ones enjoy sustained growth for years. Stitch Fix struggled to consistently generate demand over the last five years as its sales dropped at a 5.6% annual rate. This wasn't a great result and is a sign of poor business quality. We at StockStory place the most emphasis on long-term growth, but within consumer discretionary, a stretched historical view may miss a company riding a successful new product or trend. Stitch Fix's recent performance shows its demand remained suppressed as its revenue has declined by 13.6% annually over the last two years. We can better understand the company's revenue dynamics by analyzing its number of active clients, which reached 2.35 million in the latest quarter. Over the last two years, Stitch Fix's active clients averaged 16.7% year-on-year declines. Because this number is lower than its revenue growth during the same period, we can see the company's monetization has risen. This quarter, Stitch Fix's $325 million of revenue was flat year on year but beat Wall Street's estimates by 3.3%. Company management is currently guiding for a 6% year-on-year decline in sales next quarter. Looking further ahead, sell-side analysts expect revenue to remain flat over the next 12 months. While this projection suggests its newer products and services will spur better top-line performance, it is still below the sector average. Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link. Stitch Fix's operating margin has been trending up over the last 12 months, but it still averaged negative 6.9% over the last two years. This is due to its large expense base and inefficient cost structure. In Q1, Stitch Fix generated a negative 3% operating margin. The company's consistent lack of profits raise a flag. We track the long-term change in earnings per share (EPS) for the same reason as long-term revenue growth. Compared to revenue, however, EPS highlights whether a company's growth is profitable. Stitch Fix's earnings losses deepened over the last five years as its EPS dropped 24.5% annually. We tend to steer our readers away from companies with falling EPS, where diminishing earnings could imply changing secular trends and preferences. Consumer Discretionary companies are particularly exposed to this, and if the tide turns unexpectedly, Stitch Fix's low margin of safety could leave its stock price susceptible to large downswings. In Q1, Stitch Fix reported EPS at negative $0.06, up from negative $0.18 in the same quarter last year. This print easily cleared analysts' estimates, and shareholders should be content with the results. Over the next 12 months, Wall Street is optimistic. Analysts forecast Stitch Fix's full-year EPS of negative $0.46 will reach break even. We were impressed by how significantly Stitch Fix blew past analysts' revenue, EPS, and EBITDA expectations this quarter. We were also glad its full-year EBITDA guidance outperformed Wall Street's estimates. Zooming out, we think this was a solid print. The market seemed to be hoping for more, and the stock traded down 4.6% to $4.59 immediately after reporting. Big picture, is Stitch Fix a buy here and now? When making that decision, it's important to consider its valuation, business qualities, as well as what has happened in the latest quarter. We cover that in our actionable full research report which you can read here, it's free.
