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 has completed its acquisition of Tech Data Corporation, valued at approximately $6 billion. As part of this transition, Tech Data plans to invest $750 million in digital transformation initiatives over the next five years, enhancing its service capabilities and agility. With a $3.75 billion equity investment from Apollo, Tech Data is positioned as one of the lowest levered sponsor-backed companies, facilitating its strategic growth without the pressure of public ownership. Shareholders will receive $145 in cash per share following the acquisition.
Apollo Global Management has extended the expiration date for the tender offers and consent solicitations for Tech Data Corporation's senior notes. The new expiration date is June 29, 2020. The offers include purchasing any outstanding 3.700% Senior Notes due 2022 and 4.950% Senior Notes due 2027. As of June 26, 2020, approximately 86.83% of the 2022 Notes and 73.88% of the 2027 Notes had been validly tendered. These actions are part of a merger agreement where Tiger Midco, LLC plans to acquire Tech Data Corporation.
Intrado's Health Advocate will provide health advocacy and navigation services to over 60,000 employees of the State of Connecticut. The initiative aims to enhance healthcare access and manage costs for employees and their families. Services include finding in-network providers, reviewing diagnoses, coordinating second opinions, and resolving billing issues. Available from September, the personalized support will help employees maximize their benefits through a preferred provider network. This collaboration is expected to improve employee health outcomes while controlling expenses.
Apollo Global Management (NYSE: APO) announced the expansion of its insurance asset management business through a $27 billion reinsurance deal by Athene Holding Ltd. (NYSE: ATH) with Jackson National Life Insurance Company. Athene will also acquire an 11% stake in Jackson via a $500 million investment. This transaction is expected to enhance Apollo's insurance-related assets under management, which grew to nearly $80 billion in Q1 2020. The deal is seen as immediately accretive and aligns with Apollo's growth targets in fee-related earnings over the next five years.
Tiger Merger Sub Co., an affiliate of Apollo Global Management, has extended the Expiration Date for its Tender Offers and Consent Solicitations related to Tech Data Corporation's senior notes to June 26, 2020. The offers involve 3.700% Senior Notes due 2022 and 4.950% Senior Notes due 2027. As of the previous Expiration Date, approximately 86.83% of the 2022 Notes and 73.79% of the 2027 Notes were validly tendered. The Tender Offers are linked to a merger agreement for acquiring Tech Data Corporation and are subject to specific conditions.
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Apollo Global Management (NYSE: APO) announced that James Zelter, Co-President and Chief Investment Officer, Credit, will present at the Morgan Stanley Virtual US Financials Conference on June 9, 2020, at 1:00 pm ET. A live webcast of the presentation will be available on Apollo's Stockholders section of their website. A replay will also be accessible after the event. Apollo manages approximately $316 billion in assets as of March 31, 2020, focusing on credit, private equity, and real assets.
Tiger Merger Sub Co., affiliated with Apollo Global Management, has extended the expiration date for its tender offers and consent solicitations for Tech Data Corporation's senior notes. The new expiration is set for June 16, 2020. As of the previous deadline, approximately 86.83% of 2022 Notes and 73.78% of 2027 Notes were validly tendered. This initiative is part of a merger agreement where Tiger Midco, LLC will acquire Tech Data. The tendering process is subject to the merger's successful closing and other conditions.
Apollo Global Management (NYSE: APO) announced plans to offer senior notes via its subsidiary, Apollo Management Holdings, L.P. The notes will be guaranteed by multiple indirect subsidiaries and are intended for qualified institutional buyers under Rule 144A and Regulation S. Proceeds from the offering will be used for general corporate purposes. The notes have not been registered under the Securities Act and are subject to certain risks, including potential impacts from COVID-19 on operations and market conditions.
Intrado Corporation has announced free access to its Intrado Patient Messenger notification solution for hospitals in disadvantaged New York communities impacted by COVID-19. This initiative includes major healthcare networks such as MediSys Health Network and BronxCare, enhancing patient communication about symptoms, testing locations, and policies. The service can send up to 1,000 messages per second and supports multiple languages. Intrado aims to assist front-line hospitals through its foundation, reflecting its commitment to corporate social responsibility under Apollo Global Management.