Barnes To Go Private In $3.6B Acquisition Deal With Apollo
Portfolio Pulse from Lekha Gupta
Barnes Group, Inc. (NYSE:B) is set to be acquired by Apollo Global Management, Inc. (NYSE:APO) in a $3.6 billion all-cash deal. Barnes shareholders will receive $47.50 per share, a 22% premium over the June 25, 2024 closing price. The transaction is expected to close by Q1 2025, after which Barnes will be delisted and operate privately. Barnes has suspended its 2024 financial guidance due to the acquisition.
October 07, 2024 | 3:54 pm
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POSITIVE IMPACT
Apollo Global Management is acquiring Barnes Group for $3.6 billion, aiming to enhance Barnes' growth and innovation. The acquisition aligns with Apollo's strategy of investing in strong-performing companies.
Apollo's acquisition of Barnes is a strategic move to invest in a company with strong performance and growth potential. This aligns with Apollo's investment strategy, potentially boosting its stock as investors see value in the acquisition.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
Barnes Group is being acquired by Apollo for $3.6 billion, offering shareholders a 22% premium. The deal is expected to close by Q1 2025, after which Barnes will be delisted.
The acquisition by Apollo at a premium price is likely to drive Barnes' stock price up in the short term as investors react positively to the premium offer. The delisting post-acquisition will also impact long-term trading.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100