BUZZ-Aerospace firm Barnes rises on $3.6 bln deal with Apollo Global

Reuters

Oct 07, 2024

** Shares of aerospace and industrial components maker Barnes Group rise 2.4% to $46.34 premarket

** Agrees to be acquired by private-equity firm Apollo Global Management in an all-cash transaction that values it at about $3.6 billion

** Apollo offers $47.50 per share in cash, a 4.9% premium to the stock's last close

** Reuters last week reported that Apollo was in talks to buy Barnes, citing people familiar with the matter

** Shares of Barnes, which have gained 38.7% YTD, closed up 12.98% on Friday on the news

** Apollo said it expected Barnes' businesses to benefit from long-term aerospace trends at a time when travel demand is rampant

** Transaction expected to close before the end of the first quarter of 2025

(Reporting by Abhinav Parmar in Bengaluru)

((Abhinav.parmar@thomsonreuters.com))

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is rampant</p><p>   ** Transaction expected to close before the end of the first quarter of 2025 </p><p>(Reporting by Abhinav Parmar in Bengaluru)</p><p>((Abhinav.parmar@thomsonreuters.com))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"B","symbol_name":"Barrick Mining Corporation","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2473719961","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2473719961","pubTimestamp":1728301555,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"** Shares of 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it at about $3.6 billion    ** Apollo offers $47.50 per share in cash, a 4.9% premium to the stock's last close   ** Reuters last week reported that Apollo was in talks to buy Barnes, citing people familiar with the matter   ** Shares of Barnes, which have gained 38.7% YTD, closed up 12.98% on Friday on the news   ** Apollo said it expected Barnes' businesses to benefit from long-term aerospace trends at a time when travel demand is rampant   ** Transaction expected to close before the end of the first quarter of 2025 (Reporting by Abhinav Parmar in Bengaluru)((Abhinav.parmar@thomsonreuters.com))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}