Apollo Is Said To Be Among Suitors For IGT's Global Gaming Unit
Portfolio Pulse from Charles Gross
Apollo Global Management (APO) is reportedly among the potential buyers for International Game Technology's (IGT) global gaming unit. The unit could be sold for around $4 billion.
September 13, 2023 | 11:28 pm
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POSITIVE IMPACT
Apollo Global Management is reportedly interested in acquiring IGT's global gaming unit. This could potentially expand Apollo's portfolio and increase its market presence.
Acquisitions often lead to an increase in the stock price of the acquiring company due to the potential for increased market share and revenues. Therefore, this news could potentially have a positive impact on Apollo's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
IGT's global gaming unit is reportedly being eyed by Apollo Global Management. The unit could be sold for around $4 billion.
The sale of a business unit often leads to an increase in the stock price of the selling company due to the inflow of cash and potential for increased focus on core operations. Therefore, this news could potentially have a positive impact on IGT's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80