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

RTTNews | 318 gün önce
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.

Etiketler: B
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 | 808 gün önce
Australian Market Extends Early Losses In Mid-market

Australian Market Extends Early Losses In Mid-market

The Australian stock market is extending its early losses in mid-market moves on Friday, giving up some of the gains in the previous two sessions, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying above the 9,000 mark, with weakness in technology and financial stocks partially offset by gains in mining and energy stocks.
RTTNews | 50 dakika önce
Asian Markets Mostly Higher

Asian Markets Mostly Higher

Asian stock markets are trading mostly higher on Friday, despite the broadly negative cues from Wall Street overnight, as traders remain cautious amid lingering uncertainty about the outlook for interest rates ahead of US Fed Chair Jerome Powell's highly anticipated speech at the Jackson Hole Economic Symposium later in the day. Asian markets ended mixed on Thursday.
RTTNews | 1s 15 dakika önce
Sensex, Nifty Set For Muted Start

Sensex, Nifty Set For Muted Start

Indian shares may open on a sluggish note on Friday following six consecutive sessions of gains on optimism about S&P's rating upgrade for India, improving Sino-India relations and the Centre's plan to rationalize Goods and Services Tax (GST).
RTTNews | 1s 40 dakika önce
Japanese Market Slightly Higher

Japanese Market Slightly Higher

The Japanese market is slightly higher on Friday, snapping a three-session losing streak, despite the broadly negative cues from Wall Street overnight. The Nikkei 225 is moving above the 42,650 level, with gains across all sectors led by automakers and financial stocks as domestic inflation data beat expectations.
RTTNews | 2s 9 dakika önce
Australian Market Slightly Lower

Australian Market Slightly Lower

The Australian stock market is trading slightly lower on Friday, recouping some of the gains in the previous two sessions, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying above the 9,000 mark, with weakness in technology and financial stocks partially offset by gains in mining and energy stocks.
RTTNews | 2s 31 dakika önce