Sun Life Completes $350M Bell Partners Acquisition, 80% Paid in Shares
SLF sits 41% above its 52-week low of $56.22.
Summary
Sun Life Financial has completed its acquisition of Bell Partners for US$350 million, with 80% of the purchase price paid in Sun Life common shares. This strategic move expands Sun Life's asset management capabilities in the U.S. multifamily real estate market. Bell Partners will operate under BGO, contributing to a combined AUM of approximately US$100 billion for BGO. The share-based payment implies some dilution for existing shareholders.
At the time of this announcement, SLF was trading at $79.30 on NYSE in the Finance sector, with a market capitalization of approximately $43.9B. The 52-week trading range was $56.22 to $79.49. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: PR Newswire.