|Bid||54.65 x 600|
|Ask||54.66 x 200|
|Day's range||54.56 - 55.09|
|52-week range||38.87 - 58.09|
|PE ratio (TTM)||-88.51|
|Dividend & yield||1.60 (2.92%)|
|1y target est||N/A|
MetLife, Inc. (MET) has officially received all necessary regulatory approvals for the spinoff of Brighthouse Financial. The U.S. Securities and Exchange Commission gave its final stamp of approval for the spinoff Thursday. MetLife’s board of directors previously approved the transaction.
Sandler O’Neill On July 7, after the market closed, MetLife announced it reached an agreement to acquire Logan Circle Partners from Fortress Investment Group for $250 million in cash. Logan Circle is Fortress’ (FIG) traditional fixed-income asset management business. Following the separation of Brighthouse Financial in August and incorporating Logan Circle’s assets under management (AUM), MetLife’s (MET) investment management business would have more than $560 billion in total AUM of which more than $140 billion would be managed on behalf of third parties.
Fortress Investment Group LLC (FIG) entered into an agreement to divest its 100% stake in Logan Circle Partners to MetLife, Inc. (MET).