Apollo Had A Rough Quarter
Apollo Global Has A Unique Growth Engine
Ashleigh Rogers • 28 Comments
Ashleigh Rogers • 28 Comments
Today, 8:36 AM
- Outerwall (NASDAQ:OUTR) announces it will be acquired by affiliates of Apollo Global Management (NYSE:APO) for $52 per share in a deal that will see the company go private.
- The total enterprise value of the deal is $1.6B, including debt. The transaction is expected to close in Q3.
- OUTR closed at $46.91 on Friday. Shares are currently under a Nasdaq trading halt.
Thu, Jul. 21, 4:00 PM
- Less than two years after buying the IT service firm (from another P-E player for an undisclosed price), Apollo Global (APO +1.3%) is considering taking Presidio public, reports the WSJ. The listing, say the Journal's sources, could value Presidio at more than $2B.
- Always the contrarians, Apollo is thinking about a public listing during the slowest IPO market since the financial crisis. Just 50 companies have come public YTD vs. 113 for the same period last year. The offerings have raised $11.1B, 50% lower than a year ago.
Fri, Jul. 15, 4:30 PM
- Ferro (NYSE:FOE) -10.3% AH following a Reuters report that it turned down takeover offers from P-E firms Apollo Global Management (NYSE:APO) and CVC Capital Partners as too low.
- FOE's board reportedly met this week and rejected the offers, which were below the company's current trading price of ~$14/share.
- FOE may explore other alternatives if the P-E firms fail to improve their offers, and may consider making an acquisition itself, according to the report.
Thu, Jul. 7, 6:35 PM
- Apollo Education Group (NASDAQ:APOL) is up 2.2% after hours following a fiscal Q3 report where it beat on top and bottom lines after pursuing cost cuts.
- Revenue slipped 18% but beat analyst expectations, and income from continuing operations fell to $20.7M from a year-ago $50.3M.
- Adjusted EBITDA fell to $90.7M from a year-ago $132.2M but beat an expected $77.2M.
- University of Phoenix New Degreed Enrollment was 17,900 and Degreed Enrollment 155,600, vs. a year-ago 29,400 and 206,900.
- The company's not holding a conference call or providing guidance due to the pending takeover by a consortium including Apollo Global (NYSE:APO), Vistria Group and Najafi Cos. At $9.24 after hours, share price is getting closer to the $10 acquisition price.
- Press Release
Wed, Jun. 29, 9:23 AM
- The all-cash deal works out to $30.25 per share, about 26% higher than yesterday's close and 58% above the price in February when the company announced its intention to look into a sale.
- There is no financing contingency, and the deal is expected to close over the next few months.
- SA contributor Chris DeMuth has suggested DRII could be worth $36-$39 per share to a buyer like Wyndham (NYSE:WYN).
- DRII +24% premarket to $29.82.
Wed, Jun. 29, 8:18 AM
Thu, Jun. 2, 5:09 PM
- CST Brands (NYSE:CST) surged more than 18% higher in today's trade following a Reuters report that Canada's Alimentation Couche-Tard (OTCPK:ANCUF) and Japan's Seven & I Holdings (OTCPK:SVNDY), owner of the 7-Eleven chain, have submitted indicative offers to acquire the U.S. convenience store retailer.
- The two groups are competing against several other bidders for CST, including a consortium of P-E firms Blackstone (NYSE:BX) and Apollo Global Management (NYSE:APO), according to the report.
- CST reportedly will seek at least one more round of offers before deciding if will sell itself.
Thu, Jun. 2, 2:33 PM
- Concordia Healthcare (CXRX -14.2%) was up big earlier today on a rumor Blackstone (NYSE:BX) was near a deal to purchase. Now the WSJ is reporting both Blackstone and The Carlyle Group (NASDAQ:CG) did not submit final bids which were due on Tuesday, leaving Apollo Global (NYSE:APO) as potentially the last P-E suitor standing.
Thu, May 5, 7:20 AM
Wed, May 4, 5:30 PM
- AAC, AAON, AAWW, ABC, ACIW, ACRE, ACTA, AGIO, AMCX, AMRC, AMRN, ANIP, ANSS, APA, APO, AVP, AXLL, BABA, BCRX, BDX, BR, CBB, CCC, CCOI, CDK, CHD, CHK, CLDT, CNAT, CNNX, CNSL, COT, CVC, CWEI, DDD, DIN, DISCA, DNR, EAC, ENOC, EPAM, ESNT, EVA, FIG, FLDM, G, GCAP, GWPH, HII, HL, HWCC, ICON, IT, ITG, ITT, JEC, JMBA, K, LAMR, LFUS, LINC, LIOX, LMOS, LQDT, LXP, MBLY, MDC, MFC, MGA, MGLN, MGM, MITL, MLM, MMS, MRK, MWW, NICE, NILE, NRG, NTCT, NYLD, OGE, ONE, OXY, PGNX, PGTI, PRFT, PRIM, PWR, RDEN, RDUS, REGN, RFP, RGEN, RLGY, RSTI, RWLK, SBH, SEAS, SFM, SHLX, SNH, SNI, SNR, SNSS, SPH, SQBG, STOR, TDC, TDY, TE, THS, TIME, TLP, TWI, UNT, USAC, USAK, USCR, VER, VG, VLP, WIN, WPC, WRLD
Fri, Apr. 22, 9:10 AM
- The tender offer expired at midnight, with a total of 32.1M shares, or about 68.2% of the float, offered at a price of $28.50 each.
- Funds affiliated with Apollo (NYSE:APO) will thus take The Fresh Market (NASDAQ:TFM) private.
- Source: Press Release
- Now read: Village Farms: Rare Undervalued Equity Investment Opportunity In The AgTech Sector (April 5)
Tue, Apr. 19, 8:39 PM
- Yahoo (NASDAQ:YHOO) didn't say anything about its sales process during its Q1 earnings webcast, and swore off giving any updates along the way.
- But speculation about the shortlist is mostly on the mark, according to the latest from Reuters, which says Verizon's (NYSE:VZ) there (with help from Guggenheim, LionTree, Allen & Co.), along with Yellow Pages owner YP -- which has backing from AT&T (NYSE:T) on the bid, sources said.
- Japanese online retailer Rakuten (OTCPK:RKUNY) is a new name that's kicking tires as well. Among private equity, Apax Partners, TPG, Bain Capital, Apollo Global Management (NYSE:APO) and Warburg Pincus are all accounted for, and may be allowed to team up in round 2.
- No two offers were identical, sources said, so Yahoo now must look at the structures, assets and offers to sort out value -- hopefully in time to wrap up in June.
- SoftBank (OTCPK:SFTBY) and Alibaba (NYSE:BABA) aren't taking part -- but they could get involved with the company after the fate of its core assets is settled.
- YHOO wrapped an after-hours session up 1.1%.
- Now read Yahoo: Who's Ready To Take On A Legacy Digital-Native Media Turnaround? »
Mon, Apr. 18, 11:56 AM
- Glass and metal packaging company Ardagh is the lead bidder for assets that Ball (BLL +2.3%) and Rexam (OTCPK:REXFF) are selling as part of their merger, potentially fetching ~$4B, Bloomberg reports.
- Apollo Global Management (NYSE:APO), Blackstone (NYSE:BX) and Madison Dearborn Partners also are among bidders for the assets, according to the report.
- In January, the EU approved BLL’s £4.4B ($6.3B) takeover of Rexam, creating the biggest maker of food and beverage cans, after agreeing to sell 12 plants on the continent to eliminate antitrust concerns.
- Now read Ball upgraded at J.P. Morgan; Rexam risk/reward seen as more favorable
Tue, Apr. 12, 11:57 AM
- Vale (NYSE:VALE) is teaming up with U.S. P-E firm Apollo Global Management (NYSE:APO) to bid for Anglo American's (OTCPK:AAUKF, OTCPK:AAUKY) niobium and phosphates business in Brazil, Reuters reports.
- A sale of the assets, used for making fertilizers, could fetch ~$1B for Anglo, according to the report.
- Anglo has said it wants to raise as much as $4B from divestitures to help cut net debt to under $10B by year-end as it deals with the commodity price slump.
- Now read De Beers reports higher diamond demand
Mon, Apr. 4, 3:49 PM
- The go-shop period for The Fresh Market (TFM -0.4%) expired without anymore bidders stepping up to the plate, according to a SEC filing.
- Apollo Global Management (APO -0.6%) now has the green light to proceed with its acquisition of the specialty grocery chain.
- SEC Form 14D-9
- Now read Is Online Grocery Delivery A Threat To The Traditional Supermarket?
Mon, Mar. 28, 8:48 AM
- ADT Corporation (NYSE:ADT) announces the buyout of the company by Apollo Global Management (NYSE:APO) will move forward following the expiration of the go-shopping period.
- The company received 24 other proposals, but none of the potential acquirers move forward by executing a confidentiality agreement and topping the ADT offer.
- The acquisition is due to be completed by June pending shareholder approval.
- SEC Form 14A
Apollo Global Management LLC is a global alternative investment manager. It is a contrarian, value-oriented investors in private equity, credit-oriented capital markets and real estate. The company raises, invests and manages funds on behalf of some of the world's most prominent pension and... More
Industry: Diversified Investments
Country: United States
Other News & PR