Finance
Brighthouse Shares Soar After Report That Insurer Seeks Sale
Brighthouse’s market capitalization is currently about $3.7 billion.
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Brighthouse Financial Inc., spun off from MetLife Inc. almost eight years ago, is considering selling itself, the Financial Times Reported, and high-profile alternative asset managers are expected to bid for the life insurer and annuity provider.
The firm is working with Goldman Sachs Group Inc. and Wells Fargo & Co. to look at offers for either a full sale or to raise minority equity, the FT reported, citing people familiar with the matter. The people told the FT the process is in its early stages.