Emerald Holding to be Acquired by Apollo Funds for $5.03/Share in $996M All-Cash Deal

summarizeSummary

Emerald Holding, Inc. will be acquired by Apollo Funds for $5.03 per share in an all-cash transaction, taking the company private and combining it with Questex to form a major B2B events platform.

check_boxKey Events

• Definitive Merger Agreement

  Emerald Holding, Inc. will be acquired by Emma Buyer, LLC (Apollo Funds) for $5.03 per share in cash.

• Significant Premium

  The $5.03 per share offer represents a 42.1% premium to Emerald's unaffected share price as of December 15, 2025.

• Shareholder Approval Secured

  Emerald's Board unanimously approved the merger, and majority shareholders (Onex Corporation, holding over 90% of voting power) have already provided written consent, making further shareholder vote unnecessary.

• Strategic Combination

  Emerald will be combined with Questex, LLC under Apollo's ownership, aiming to create a leading North American B2B experiential events and media platform.

auto_awesomeAnalysis

Emerald Holding, Inc. has entered into a definitive merger agreement to be acquired by funds managed by Apollo Global Management, Inc. for $5.03 per share in cash. This transaction, valued at approximately $996 million in equity, represents a 42.1% premium to the company's unaffected share price prior to its strategic review announcement. The deal has been unanimously approved by Emerald's board and secured consent from majority shareholders (Onex Corporation, holding over 90% of voting power), ensuring a high likelihood of completion. The acquisition will take Emerald private and combine it with Questex, creating a leading B2B events platform.