Barnes Group To Be Taken Private By Apollo Global Management In $3.6 Bln All-cash Deal

RTTNews | 399 days ago
Barnes Group To Be Taken Private By Apollo Global Management In $3.6 Bln All-cash Deal

(RTTNews) - Barnes Group Inc. (B) announced Monday that it has entered into a definitive agreement to be acquired by funds managed by affiliates of Apollo Global Management, Inc. (APO) in an all-cash transaction that values Barnes at an enterprise value of approximately $3.6 billion.

Under the agreement, Barnes shareholders will receive $47.50 per share in cash, representing a premium of approximately 22% over Barnes' undisturbed closing share price on June 25, 2024.

The Barnes Board of Directors unanimously approved the definitive agreement and recommends that Barnes shareholders vote in favor of the transaction.

The transaction is expected to close before the end of the first quarter of 2025 and is subject to customary closing conditions, including approval by Barnes shareholders and receipt of required regulatory approvals.

Upon completion of the transaction, Barnes will be delisted from the New York Stock Exchange and become a privately held company. Barnes will continue to operate under the Barnes Group name and brand.

In addition, Barnes is suspending its financial guidance for the full year 2024 as a result of the pending transaction.

read more
Barnes Group To Acquire MB Aerospace

Barnes Group To Acquire MB Aerospace

Aerospace company Barnes Group Inc. (B) announced Monday that it has entered into a definitive agreement to acquire MB Aerospace in deal valued at approximately $740 million. Upon closing of the transaction, MB Aerospace will become part of Barnes Aerospace.
RTTNews | 889 days ago
Sensex, Nifty Modestly Lower In Cautious Trade

Sensex, Nifty Modestly Lower In Cautious Trade

Indian shares were a tad lower on Tuesday despite firm cues from global markets and comments from U.S. President Donald Trump that the U.S. was "pretty close" to a trade deal with New Delhi that's good for everybody.
RTTNews | 1h 14min ago
Australian Market Slips To Losses In Mid-market

Australian Market Slips To Losses In Mid-market

The Australian stock market is slipping in to the red in mid-market trading on Tuesday after early gains, reversing some of the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying well below the 8,850 level, with weakness in financial and technology stocks partially offset by gains in mining and energy stocks.
RTTNews | 2h 17min ago
Asian Markets Trade Mixed

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Tuesday, following the broadly positive cues from Wall Street overnight, as traders react to further progress made towards ending the US government shutdown, with the US Senate commencing a series of votes on a package to reopen the government and end the longest shutdown on record. Asian markets closed mostly higher on Monday.
RTTNews | 2h 36min ago
Sensex, Nifty Seen Opening Higher On Trade Deal Hopes

Sensex, Nifty Seen Opening Higher On Trade Deal Hopes

Indian shares look set to open on a positive note Tuesday after U.S. President Donald Trump indicated he would reduce the tariff rate on Indian goods "at some point," and that the U.S. was "pretty close" to a trade deal with New Delhi that's good for everybody.
RTTNews | 3h 8min ago
Thai Shares Expected To Open To The Upside On Tuesday

Thai Shares Expected To Open To The Upside On Tuesday

The Thai stock market has moved higher in two of three trading days since the end of the five-day losing streak in which it had dropped more than 15 points or 1.2 percent. The Stock Exchange of Thailand now sits just above the 1,305-point plateau and it's called higher again on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead.
RTTNews | 3h 40min ago