Welcome to our dedicated page for Apollo Global Management news (Ticker: APO), a resource for investors and traders seeking the latest updates and insights on Apollo Global Management stock.
Apollo Global Management, Inc. (NYSE: APO) is a premier alternative investment manager that specializes in private equity, credit, and real estate, with expertise in distressed asset situations. Founded in 1990, Apollo is known for its contrarian, value-oriented investment approach. The company operates across various sectors including chemicals, manufacturing, natural resources, consumer services, financial services, leisure, media, and technology.
As of December 31, 2023, Apollo managed approximately $651 billion in assets. The firm generates the majority of its revenue from its Retirement Services segment through Athene, a leading provider of retirement savings products. Apollo's integrated business model sets it apart, enabling seamless capital deployment across a diverse portfolio.
Recently, Apollo has made significant strides in renewable energy investments. For example, Great Bay Renewables, a joint venture with Apollo funds, entered into a $10.1 million facility with Hexagon Energy to support solar development projects totaling 1,500 MWac in the MISO interconnection queue.
Apollo has also expanded its international footprint through strategic acquisitions and partnerships. The firm recently acquired a majority stake in Panasonic Automotive Systems Corporation, aiming to accelerate growth in the advanced automotive solutions sector. Additionally, Apollo formed a partnership with MassMutual, making MassMutual a minority equity owner in ATLAS SP Partners.
Financially robust, Apollo continues to innovate in capital solutions, having secured transactions like its $1.85 billion acquisition of U.S. Silica Holdings, Inc. This move further diversifies Apollo's investment portfolio and fortifies its presence in the industrial minerals sector.
ABC Technologies Holdings (TSX: ABCT) announced that its majority shareholder, ABC Group Canada LP, has agreed to sell a majority stake to Apollo Funds, managed by Apollo Global Management (NYSE: APO), for CAD$10.00 per share. This transaction involves the sale of 51% of ABC's common shares, valued at approximately CAD$276.6 million. Post-acquisition, Apollo will nominate five board members while ABC LP will retain three. Closing is subject to regulatory approvals across several countries. The deal includes a potential price increase to CAD$10.64 per share if ABC meets certain acquisition thresholds.
Apollo Global Management (NYSE: APO) will release its Q1 2021 financial results on May 3, 2021, after the market close. A conference call is scheduled for May 4, 2021, at 8:30 a.m. ET to discuss these results, accessible via phone or webcast. As of December 31, 2020, Apollo managed approximately $455 billion in assets across credit, private equity, and real assets. For participant access, dial (833) 614-1406 for U.S. callers or +1 (914) 987-7127 internationally, using conference ID 5576528.
On April 8, 2021, Apollo (NYSE: APO) announced an extension of the cash tender offer to acquire The Michaels Companies, Inc. (Nasdaq: MIK), now set to expire on April 14, 2021. As of the extension date, approximately 40.49% of Michaels' shares, totaling 57,954,675, had been tendered. Previous expiration was scheduled for April 12, 2021. The tender offer will proceed following the satisfaction of merger agreement conditions. Apollo cautions stakeholders regarding forward-looking statements and risks associated with the tender offer.
One River Digital Asset Management has established an Academic and Regulatory Advisory Council with the addition of Jay Clayton, Kevin Hassett, and Jon Orszag. Clayton, former SEC Chair, now non-executive Chair of Apollo Global Management (APO), emphasized the importance of understanding digital assets within existing regulations. Hassett and Orszag bring extensive economic expertise to the council. CEO Eric Peters highlighted their commitment to transparency and innovation in the evolving digital asset landscape. One River manages over $2.5 billion in institutional assets, focusing on tailored strategies for clients worldwide.
Intrado Corporation has introduced Spatial Command & Control, a new GIS mapping solution designed to enhance 911 incident responses. This system integrates various location data into a single interface, reducing dispatch errors and accelerating response times.
Key features include highly accurate GIS data, 3D visualizations, real-time traffic updates, and enhanced call workflows with the VIPER platform. This innovation aims to simplify the telecommunicator's job, improving safety in communities.
SYNNEX Corporation (NYSE: SNX) has entered a definitive merger agreement with Tech Data, valued at approximately $7.2 billion. The merger aims to create a combined entity with about $57 billion in pro forma annual revenues and a workforce of over 22,000. SYNNEX shareholders will own 55% of the new company, while Apollo Funds will hold 45%. Significant benefits include enhanced global reach, operational efficiencies, and projected non-GAAP diluted EPS accretion exceeding 25% in the first year.
Apollo Global Management has announced a leadership transition, appointing Marc Rowan as the new CEO, replacing founder Leon Black. Jay Clayton, former SEC Chairman, will serve as Non-Executive Chairman of the Board. The board has been expanded to include new independent directors: Richard Emerson and Dr. Kerry Healey. Apollo anticipates exceeding analyst estimates for Q1 earnings, with fundraising projected to reach $15-20 billion annually. These governance changes are part of a broader strategy to enhance transparency and may position Apollo for inclusion in the S&P 500.
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.
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