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
Diamondback Energy (FANG) Rises Higher Than Market: Key Facts
In the latest trading session, Diamondback Energy (FANG) closed at $145.57, marking a +2.42% move from the previous day. The stock outperformed 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%. The energy exploration and production company's stock has dropped by 0.55% in the past month, falling short of the Oils-Energy sector's gain of 3% and the S&P 500's gain of 6.29%. The investment community will be closely monitoring the performance of Diamondback Energy in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $2.72, reflecting a 39.82% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $3.41 billion, indicating a 37.23% upward movement from the same quarter last year. For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $13.23 per share and a revenue of $14.05 billion, representing changes of -20.16% and +26.94%, respectively, from the prior year. Investors should also note any recent changes to analyst estimates for Diamondback Energy. 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. Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system. The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.89% lower within the past month. Currently, Diamondback Energy is carrying a Zacks Rank of #3 (Hold). In terms of valuation, Diamondback Energy is currently trading at a Forward P/E ratio of 10.74. This denotes a premium relative to the industry's average Forward P/E of 10.64. We can additionally observe that FANG currently boasts a PEG ratio of 1.29. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Oil and Gas - Exploration and Production - United States industry stood at 2.42 at the close of the market yesterday. The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 178, placing it within the bottom 28% of over 250 industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Make sure to utilize to follow all of these stock-moving metrics, and more, in the coming 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 Diamondback Energy, Inc. (FANG) : 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
38 minutes ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq futures waver as US-China trade talks progress, inflation print looms
US stock futures wavered as Wall Street digested the progress on US-China trade negotiations and braced for the release of the May inflation report. Futures attached to the Dow Jones Industrial Average (YM=F), the benchmark S&P 500 (ES=F), and the tech-heavy Nasdaq 100 (NQ=F) hovered just below baseline. Meanwhile, on Tuesday in London, representatives from the US and China reached an agreement on a framework and implementation plan to ease trade tensions between the two countries. 'We have reached a framework to implement the Geneva consensus,' US Commerce Secretary Howard Lutnick said. The commerce secretary indicated that the deal should resolve issues between the two countries on rare earths and magnets. Representatives will now take the proposal to their respective leaders for approval. Read more: The latest on Trump's tariffs When the two countries struck a temporary trade agreement in Geneva in May, stocks surged. Since then, though, relations between the US and China deteriorated as both sides accused each other of violating the deal. The latest plan to resolve trade disputes followed two days of renewed trade talks in London. Nevertheless, the upbeat tone surrounding the meetings has helped lift market sentiment. Stocks edged higher on Tuesday, with the S&P 500 and Nasdaq now within striking distance of their all-time closing highs. Meanwhile, the May Consumer Price Index (CPI) report is set for release on Wednesday at 8:30 a.m. ET. Analysts expect to see that inflation increased slightly in the month that followed President Trump's introduction of higher tariff rates. With the Federal Reserve's next policy meeting next week, investors will be wary of any signs that costs associated with tariffs are being passed onto the consumer.
Yahoo
an hour ago
- Yahoo
SailPoint Strengthens South American Presence with AWS-Based SaaS Instance in Brazil
AUSTIN, Texas & SíO PAULO, Brazil, June 10, 2025--(BUSINESS WIRE)--SailPoint, Inc. (NASDAQ: SAIL), a leader in unified identity security, today announced the June launch of its first Software-as-a-Service (SaaS) instance in South America, hosted on Amazon Web Services (AWS) in Brazil. This launch highlights the strategic expansion of SailPoint's global footprint and demand for identity security solutions around the world. The Brazil SaaS instance will support increasing demand for SailPoint Identity Security Cloud regionally, addressing expectations around data sovereignty, regulatory compliance and security. The new instance will enable organizations in highly regulated industries—such as finance, healthcare and government—to unlock the business value of cloud adoption and leverage SailPoint's industry-leading identity security platform, SailPoint Atlas, locally. "Launching a SaaS instance in Brazil is more than just adding infrastructure—it's about empowering local enterprises with identity security solutions that are secure, scalable and tailored to regional requirements," said Gary Nafus, Chief Commercial Officer at SailPoint. "From our vantage point, organizations in South America are accelerating their digital transformation journeys, and we believe our regional SaaS offering will empower them to do so with confidence—improving security posture, supporting compliance efforts, and reducing operational complexity." Built as a multi-tenant SaaS environment on AWS, the Brazil instance is fully isolated from other AWS regions, designed to prevent customer data from being replicated or stored outside the region. This announcement underscores SailPoint's long-term vision to be the identity security partner of choice for global enterprises. By expanding its SaaS footprint into South America, SailPoint continues to enable organizations to scale securely, simplify compliance, and defend against today's evolving identity threats. For more information about SailPoint Identity Security Cloud visit: About SailPoint, Inc. At SailPoint, we believe enterprise security must start with identity at the foundation. Today's enterprise runs on a diverse workforce of not just human but also digital identities—and securing them all is critical. Through the lens of identity, SailPoint empowers organizations to seamlessly manage and secure access to applications and data at speed and scale. Our unified, intelligent, and extensible platform delivers identity-first security, helping enterprises defend against dynamic threats while driving productivity and transformation. Trusted by many of the world's most complex organizations, SailPoint secures the modern enterprise. View source version on Contacts Media Relations for SailPoint Samantha PersonSenior Manager, PR & Corporate
