Apollo to Acquire Emerald Holding for $1 Billion, Creating New Live Events Platform
APO sits 33% above its 52-week low of $99.56.
Summary
Apollo Global Management will acquire publicly traded Emerald Holding and privately held Questex to establish a new platform focused on live events. Emerald shareholders are set to receive $5.03 per share in cash, valuing the company at approximately $1 billion. This strategic acquisition expands Apollo's portfolio, following its recent completion of the Prosol Group acquisition. For Emerald Holding (EEX), this represents a definitive exit from public trading. Traders will monitor the integration of these entities and the long-term strategic implications for Apollo's investment portfolio.
At the time of this announcement, APO was trading at $132.19 on NYSE in the Finance sector, with a market capitalization of approximately $76.8B. The 52-week trading range was $99.56 to $157.28. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Reuters.