What is Brighthouse Financial, Inc.?

Brighthouse Financial, Inc. is a new, publicly traded company that will be spun off from MetLife, Inc. It will focus on life insurance and annuities, separating these operations from MetLife's other businesses.

What is the ratio of Brighthouse stock I will receive for my MetLife shares?

You will receive one share of Brighthouse Financial, Inc. common stock for every 11 shares of MetLife, Inc. common stock you own as of the record date, which is July 19, 2017.

What will MetLife do with the cash it receives from Brighthouse Financial?

MetLife plans to use the cash distribution and payments related to the Tax Receivables Agreement from Brighthouse Financial within 18 months and six months, respectively, to pay dividends to MetLife stockholders, make common stock repurchases, or pay its creditors.

Will MetLife continue to hold shares of Brighthouse Financial after the distribution?

Yes, MetLife will retain a portion of Brighthouse Financial's stock. It plans to dispose of these remaining shares as soon as practicable, and no later than five years after the distribution, through various methods to maximize stockholder value.

METLIFE INC 8-K SEC Disclosure

Summary

This 8-K filing from MetLife Inc. (MET) announces the contingent approval by its Board of Directors for the distribution of at least 80.1% of Brighthouse Financial, Inc. common stock to MetLife stockholders. This spin-off is a significant event for investors, as it will create a separate, publicly traded entity focused on life insurance and annuities. The distribution is contingent upon the SEC declaring Brighthouse Financial's registration statement effective by July 7, 2017, with the record date set for July 19, 2017, and the distribution date expected to be August 4, 2017. Investors will receive one share of Brighthouse Stock for every 11 shares of MetLife Stock held. MetLife has also outlined plans for utilizing the cash it will receive from Brighthouse Financial, including dividends to stockholders and share repurchases. Additionally, MetLife intends to dispose of its remaining Brighthouse Stock holdings to maximize stockholder value, providing a clear strategy for both the newly formed entity and MetLife's ongoing operations.

Key Highlights

1MetLife's Board of Directors has approved the distribution of at least 80.1% of Brighthouse Financial, Inc. common stock to MetLife stockholders.
2The distribution is contingent on the SEC declaring Brighthouse Financial's Form 10 registration statement effective by July 7, 2017.
3The record date for the distribution is July 19, 2017, and the distribution date is set for August 4, 2017.
4MetLife stockholders will receive one share of Brighthouse Financial stock for every 11 shares of MetLife stock owned.
5MetLife plans to use cash distributions and payments received from Brighthouse Financial for dividends, stock repurchases, or debt payments within specified timeframes.
6MetLife intends to dispose of all its remaining Brighthouse Financial stock holdings as soon as practicable, no later than five years after the distribution, to maximize stockholder value.

METLIFE INC 8-K Report, Corporate Update (Jun 29, 2017)

Summary

Key Highlights

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