Advertisement
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.
Barnes Group To Acquire MB Aerospace
Barnes Group Guides FY23 Adj. EPS Above View; Q4 Profit Down 45%
Barnes Group Slashes FY22 Outlook As Q2 Revenues Miss Estimates
CAC 40 Down 0.66%; Bouygues Rises Sharply On Earnings
Sensex, Nifty End Choppy Session Modestly Higher
DAX Drifts Lower In Cautious Trade; Brenntag Down Sharply On Lower Earnings
European Shares Drift Lower In Lackluster Trade
