By Dean Seal
Shares of Bridge Investment Group soared after Apollo Global Management said it would buy the real-estate investment firm in a $1.5 billion deal.
The stock was up 34% at $10.62 in premarket trading. Shares were changing hands at about $7.26 this time a year ago.
Apollo said Monday morning that it would acquire Bridge for about $1.5 billion in stock, confirming an earlier report by The Wall Street Journal. The deal values Bridge shares at $11.50 apiece.
The transaction will nearly double Apollo's real-estate assets under management to more than $110 billion.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
February 24, 2025 09:08 ET (14:08 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。