Welcome to our dedicated page for Apollo Global Mgmt news (Ticker: APO), a resource for investors and traders seeking the latest updates and insights on Apollo Global Mgmt stock.
Apollo Global Management, Inc. reports news tied to its alternative asset management and retirement services businesses. Updates commonly cover operating results, dividends on common and preferred stock, assets under management, investment origination, and activity at Athene, its retirement-services subsidiary.
Company news also includes fund formation and capital raising across Apollo strategies, including hybrid value, structured equity, dislocated liquid credit, private equity, credit, and real assets. Announcements may describe investment activity across funds managed by Apollo, portfolio-company developments, governance, material agreements, and capital-structure matters.
Apollo Global Management announced a cash tender offer to acquire all shares of The Michaels Companies at $22.00 per share, valuing the transaction at approximately $5.0 billion. This offer represents a premium of about 78% over the 90-day volume-weighted average price and a 47% premium over Michaels' closing price on February 26, 2021. The tender offer, effective March 16, 2021, will expire on April 12, 2021, and is conditioned on a majority of shares being tendered. Upon completion, Michaels will become a wholly owned subsidiary of Apollo.
Health Advocate announced that its engage2Health (e2H) Health Insights Dashboard™ received the NCQA Measure Certification for HEDIS measures, confirming its dedication to quality analytics. This certification reflects the Dashboard's ability to enhance health outcomes through tailored experiences for clients and members. The Dashboard addresses key health metrics, including cancer screenings and heart attack treatments, providing insights for risk assessment and targeted interventions. Since 1993, HEDIS has served as a benchmark for managed care performance.
Hilton Grand Vacations (NYSE:HGV) announced its definitive agreement to acquire Diamond Resorts for approximately $1.4 billion, equivalent to 34.5 million shares of HGV stock. This strategic acquisition aims to create the leading vacation ownership company, increasing HGV's market presence to 154 resorts and 720,000 owners. The merger is expected to yield over $125 million in cost synergies and enhance HGV's cash flow and EBITDA streams. The transaction, set to close in summer 2021 pending shareholder and regulatory approvals, will see HGV shareholders retaining 72% ownership of the combined entity.
Apollo (NYSE: APO) and Athene (NYSE: ATH) have announced a definitive all-stock merger agreement with an equity value of approximately $11 billion for Athene. Under the deal, each Class A share of Athene will be exchanged for 1.149 shares of Apollo stock. After the merger, Apollo shareholders will own about 76% of the combined entity. The merger aims to enhance shareholder value through stronger capital bases and strategic alignment, allowing the combined firm to scale operations effectively. The transaction is expected to close in January 2022, pending shareholder and regulatory approvals.
Apollo Global Management has announced an agreement to acquire The Venetian Resort and Sands Expo and Convention Center for $2.25 billion. VICI Properties will purchase the real estate assets for $4.0 billion, totaling $6.25 billion. The acquisition positions Apollo to leverage its expertise in hospitality and gaming as the sector rebounds from COVID-19. Apollo’s investment strategy includes no third-party debt, and the transaction is expected to close by Q4 2021, enhancing the potential for growth at this iconic Las Vegas resort.
Apollo Global Management has established an Impact Advisory Committee to enhance its impact investing strategy. Chaired by Lisa Hall, the Committee consists of 11 experts from various fields. Their role is to guide Apollo’s impact objectives and amplify portfolio performance in areas like Economic Opportunity, Education, and Climate Sustainability. The Committee aims to leverage its diverse expertise to drive positive changes across Apollo’s portfolio companies.
DISH Network Corporation has entered an agreement with Intrado Corporation for 911 call routing, marking a significant step in DISH's deployment of its cloud-native 5G wireless service. This partnership ensures reliable emergency response capabilities as DISH rolls out its unique 5G network across the U.S. Jeff McSchooler, DISH's EVP, emphasized the importance of Intrado's reputation in providing robust 911 solutions. Intrado manages over 60% of 911 call routing in North America, reinforcing the reliability of DISH's new services for customers.
Intrado Corporation has been chosen by the Florida Department of Education for its Intrado Safety Shield™ solution, enabling compliance with Alyssa’s Law, which requires K-12 schools to implement mobile panic alert systems. This solution meets all statutory requirements and enhances school safety through various capabilities, including real-time coordination with emergency services. Florida has allocated $8 million for this initiative, allowing schools to select from approved vendors. Intrado's established role in 911 services positions it as a trusted provider in the education sector.
Flowroute, a solution of Intrado Corporation, has been recognized as the top-ranked SIP trunk vendor in customer satisfaction by Eastern Management Group for the third consecutive year. The evaluation included over 4,000 IT managers assessing 29 vendors across 12 factors, where Flowroute excelled with four-star ratings across nearly all categories. Its HyperNetwork™ solution enhances call quality and reliability with a programmable and scalable infrastructure, fulfilling carrier-grade demands.
Apollo Global Management (NYSE: APO) announced that co-founder Marc Rowan will present at the Credit Suisse Financial Services Forum on February 24, 2021, at 1:50 p.m. ET. The presentation will be available via a live audio webcast on Apollo's Stockholders section of their website. A replay will be accessible shortly after the event for those unable to attend live. Apollo, a leading global alternative investment manager, had $455 billion in assets under management as of December 31, 2020, specializing in credit, private equity, and real assets across nine industries.