Sixth Street Reapproaches Bright House
Sixth Street is working on renewing its offer to acquire Bright House Financial Inc., amid a ongoing regulatory review of a deal previously negotiated and approved last year by Aquarian Holdings for $4.1 billion. Bright House is a life and retirement insurance company managing approximately two million policies. Its current stock price is $54.87, having risen by up to 10% following reports that Sixth Street is considering stepping in as an alternative bidder, especially if the current deal falls through. It is worth noting that Aquarian relies on approximately $3 billion in funding, and the transaction is under review by the Delaware Department of Insurance, which is currently attracting both local and international interest. If Bright House does not obtain regulatory approval by December 6, it can withdraw from the deal and explore other offers.
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