Could a Sony-Apollo Joint Bid Stop a Paramount Shareholder Revolt? | Analysis [Yahoo! Finance]
Apollo Global Management, Inc. (New) (APO)
Last apollo global management, inc. (new) earnings: 5/1 07:00 am
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Source: Yahoo! Finance
But don't count out Apollo Global Management just yet. On Thursday, TheWrap learned that Sony Pictures has been in talks with Apollo about making a joint bid to acquire the Melrose studio, just weeks after the private equity firm made a solo offer to purchase Paramount for $26 billion, including the assumption of debt. The Sony news quickly sent shares of Paramount up more than 11% in after-hours trading. The potential bid comes as investors are staging a near-revolt against Paramount Global's board — and a special committee of directors set up by majority shareholder Shari Redstone to consider bids — for its seeming insistence on only pursuing a deal for Skydance to buy the company. Some shareholders are threatening litigation if Redstone doesn't also consider the Apollo bid, which they see as the superior financial deal. Sony and Apollo cannot submit a joint bid until after a 30-day exclusive negotiation window between Paramount and production partner Skydance ends on May 3.
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News
- Sony and Apollo send letter expressing interest in $26 billion Paramount buyout as company considers Skydance bid [MSNBC.com]MSNBC.com
- Fed rate signals unleashed significant tailwinds: Apollo's Sløk [Yahoo! Finance]Yahoo! Finance
- Fed rate signals unleashed significant tailwinds: Apollo's Sløk [Yahoo! Finance Canada]Yahoo! Finance Canada
- Paramount is on the verge of a deal: How it got here [Yahoo! Finance]Yahoo! Finance
- Paramount is on the verge of a deal: How it got here [Yahoo! Finance Canada]Yahoo! Finance Canada
APO
Earnings
- 5/2/24 - Beat
APO
Sec Filings
- 4/11/24 - Form 4
- 3/21/24 - Form 4
- 3/5/24 - Form 4
- APO's page on the SEC website