Reported about 7 hours ago
Apollo Global Management is set to acquire real estate firm Bridge Investment Group in an all-stock transaction valued at $1.5 billion, allowing Apollo to enhance its real estate offerings. Bridge stakeholders will receive shares of Apollo stock, reflecting a 45% premium to Bridge's recent share price. Founded in 2009, Bridge manages around $50 billion in assets and will continue to operate independently within Apollo after the deal, which is anticipated to close in the third quarter.
Source: YAHOO