Apollo Global Management, Inc. - APO STOCK NEWS

Hilton Grand Vacations Inc. (NYSE:HGV) announced that 95.6% of shareholders approved the issuance of approximately 34.5 million shares in connection with the acquisition of Diamond Resorts International, Inc. The transaction, valued at around $1.4 billion, is expected to close on August 2, 2021, pending customary conditions. This merger aims to establish the largest luxury timeshare operator, combining 710,000 owners and 154 properties. CEO Mark Wang emphasized that the acquisition will accelerate growth and enhance opportunities for team members, owners, and guests.

Newport Merger Sub, affiliated with Apollo Global Management, has initiated a consent solicitation from holders of The New Home Company’s 7.250% Senior Notes due 2025. This is related to a merger agreement for acquiring The New Home Company. The proposed amendments would eliminate the need for a 'Change of Control Offer' due to the merger. Holders consenting by August 3, 2021, can receive a consent fee of $2.50 per $1,000 of Notes. If majority consent isn't met, the offer will be terminated, calling for a standard 'Change of Control Offer'.

Apollo Global Management (NYSE: APO) has announced its 2021 Annual Meeting of Stockholders to be held virtually on October 1, 2021, at 9:30 a.m. EDT due to COVID-19 concerns. The record date for stockholders is set for August 5, 2021, with proxy materials being mailed around August 16, 2021. Apollo, a leading alternative asset manager with approximately $461 billion in assets under management as of March 31, 2021, focuses on investment strategies aimed at generating excess returns across various risk profiles.

The New Home Company (NYSE: NWHM) has entered a definitive merger agreement with Apollo Funds, managed by Apollo Global Management (NYSE: APO), for an all-cash acquisition at $9.00 per share, valuing NWHM at approximately $338 million. This price represents an 85% premium over the stock’s closing price on July 22, 2021. The deal, unanimously approved by NWHM's Board, aims to enhance operational and financial flexibility and capture growth in the housing market. The transaction is expected to close in the second half of the fiscal year, with NWHM becoming a privately held company post-acquisition.

Intrado Corporation and ADT have partnered to enhance emergency response capabilities by delivering human-verified data to 911 centers using Intrado's Emergency Data Broker™. This collaboration allows ADT to send critical information seamlessly when alarms are triggered, optimizing the response process for public safety. This feature is available at no cost to any text-to-911-capable public safety answering point in the U.S., requiring no additional updates or changes. The initiative supports the Next Generation 911 ecosystem, improving situational awareness and emergency response outcomes.

Intrado Corporation has announced the final results of its offer to purchase up to $100 million of its 8.50% Senior Notes due 2025. As of July 21, 2021, approximately 76.39% of the Notes, totaling $600,027,000, were tendered. Since the total tendered amount exceeded the offer amount, the purchase will be conducted on a pro rata basis. The settlement date for this offer is expected to be July 23, 2021. Notes not accepted will continue to accrue interest under the Indenture.

Apollo Global Management has successfully acquired EmployBridge, the largest industrial staffing firm in the U.S. This strategic partnership aims to boost EmployBridge's growth, enhancing its service offerings and workforce management solutions. CEO Michael Miles emphasized the partnership's potential to energize teams and improve client engagement. Apollo's Robert Kalsow-Ramos noted strong market fundamentals and plans for significant investments in technology and client engagement. Financial terms weren't disclosed, but the acquisition positions Apollo to drive expansion in a high-demand market.

Athene Holding Ltd. (NYSE: ATH) has announced a definitive agreement to acquire Foundation Home Loans (FHL), a UK mortgage lender, from Fortress Investment Group affiliates. As of June 2021, FHL managed a £3 billion mortgage portfolio. This strategic move aims to enhance Athene's asset sourcing capabilities and provide attractive investment opportunities in residential mortgage loans. The acquisition is subject to regulatory approvals, including consent from the Financial Conduct Authority.

Apollo Global Management (NYSE: APO) has entered into an agreement with Arthur Kill Terminal LLC to invest in the Arthur Kill Terminal project, a significant offshore wind energy facility under development in Staten Island, New York. The project, led by Atlantic Offshore Terminals, is expected to start operations in late 2025 and aims to bolster New York's offshore wind supply chain, targeting at least 9,000 megawatts of offshore wind by 2035. Apollo's investment aligns with its expertise in renewable energy infrastructure and its commitment to sustainability.