Sun Life Financial (NYSE:SLF) has expanded its U.S. footprint by acquiring multifamily manager Bell Partners for $350M—mostly paid in SLF shares—and will operate those assets under its BGO unit, while warning shareholders about an unrelated, unsolicited mini-tender offer from Ocehan LLC at a deep discount.
Previous Week Recap
- Sun Life Buys Bell Partners: Sun Life Financial (SLF) bought U.S. multifamily manager Bell Partners for $350M, paid ~80% in Sun Life shares. Bell Partners will run U.S. multifamily assets under Sun Life’s BGO unit.
- Unsolicited Mini-Tender Warned: Sun Life Financial (SLF) warned shareholders of an unsolicited mini-tender by Ocehan LLC for 100,000 shares at ~25% below recent TSX/NYSE closes. Sun Life is not associated and does not endorse it.
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