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

RTTNews | 219 dagar sedan

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.

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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 | 709 dagar sedan

Barnes Group Guides FY23 Adj. EPS Above View; Q4 Profit Down 45%

Barnes Group Guides FY23 Adj. EPS Above View; Q4 Profit Down 45%

While reporting financial for the fourth quarter on Friday, Barnes Group, Inc. (B), a provider of highly engineered products, initiated its adjusted earnings and organic sales growth guidance for the full-year 2023.

RTTNews | 817 dagar sedan

Barnes Group Slashes FY22 Outlook As Q2 Revenues Miss Estimates

Barnes Group Slashes FY22 Outlook As Q2 Revenues Miss Estimates

While reporting financial for the second quarter on Friday, Barnes Group, Inc. (B), a provider of highly engineered products, slashed its adjusted earnings and organic sales growth guidance for the full-year 2022.

RTTNews | 1020 dagar sedan

Win Streak May Continue For South Korea Shares

Win Streak May Continue For South Korea Shares

The South Korea stock market has finished higher in three straight sessions, collecting more than 60 points or 2.4 percent in that span. The KOSPI now sits just above the 2,640-point plateau and it's tipped to open to the upside again on Thursday.

RTTNews | 13 minuter sedan

Australia Unemployment Data Due On Thursday

Australia Unemployment Data Due On Thursday

Australia will on Thursday release April numbers for unemployment, highlighting a modest day for Asia-Pacific economic activity. The jobless rate is expected to hold steady at 4.1 percent, with the addition of 20,900 jobs following the increase of 32,200 jobs in March.

RTTNews | 1h 13minuter sedan

European Markets Close With Mild Losses

European Markets Close With Mild Losses

The major European stock markets finished moderately to the downside in cautious trade on Wednesday as benign U.S. inflation data prompted traders to pare back Fed rate cut bets for this year.

RTTNews | 2h 50minuter sedan

Swiss Franc Weakens Against Majors

Swiss Franc Weakens Against Majors

The Swiss franc fell against its major counterparts in the New York session on Wednesday. The franc edged down to 1.1182 against the pound and 0.8436 against the greenback, from an early high of 1.1117 and a 5-day high of 0.8324, respectively.

RTTNews | 3h 11minuter sedan

Pound Falls Against U.S. Dollar, Euro

Pound Falls Against U.S. Dollar, Euro

The pound dropped against the U.S. dollar and the euro in the New York session on Wednesday.

RTTNews | 4h 20minuter sedan

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