Investors and security holders may obtain free copies of the definitive joint proxy statement/prospectus, any amendments or supplements thereto and other documents containing important information about Apollo and Athene, once such documents are filed with the SEC, through the website maintained by the SEC at www.sec.gov. On March 8, 2021, Apollo announced that it had entered into a merger agreement with Athene, valuing the combined group at just under $30bn. Apollo's deal values Athene at $11 billion, which isn't a small number. 0 Apollo's $11 Billion Merger With Athene. . NEW YORK and HAMILTON, Bermuda, March 08, 2021 . Athene launched first Funding Agreement. Athene is a retirement services company. Skadden, Arps, Slate, Meagher & Flom LLP advised Apollo Global Management, while Latham & Watkins LLP represented the special committee of Athene's board in the transaction. The Dow Jones fell, even as Nancy Pelosi touted infrastructure bill progress. BioNTech stock closed 18.1% lower for the week, and Novavax's shares were tumbling 16.5%. Found insideThe question became "Should women fly?" Deborah G. Douglas tells the story of this ongoing debate and its impact on American history. Commercial mortgage-backed securities (CMBS)-securitizations of mortgage loans backed by commercial real estate-have become compelling devices for fixed income investing. Many companies have kept that promise and an increasing number of well-established chip stocks offer meaningful payouts. Athene became Apollo’s biggest client, paying hundreds of millions of dollars a year in exchange for managing its asset portfolio. The S&P 500 Went 227 Days Without a 5% Drop. "This Special Report explores strategies for maximising inclusion and diversity in the legal profession both in-house and in private practice. Chapters has been written by experts with direct experience in their specialist fields. One of the best parts about being a contributor with The Motley Fool is that I get to spend lots of time learning about great companies. The companies announced Monday that they have agreed to merge by swapping stock . Perhaps, the departure of Leon Black from leadership positions at Apollo can be helpful in this regard. Apollo also announced that the conflicts committee of its board of directors has approved changes that will result in a simpler, more transparent corporate structure, with a single class of common stock, and “one share/one vote” to ensure that the voting rights of shareholders align with their economic interests. Walkers Global represented Athene’s special committee on matters of Bermuda law. Represents the views and opinions of Analysts. On February 26, 2016, Apollo Commercial Real Estate Finance, Inc. (the "Company") entered into (i) an Agreement and Plan of Merger (the "Merger Agreement") with Apollo Residential Mortgage, Inc., a Maryland corporation ("AMTG"), and Arrow Merger Sub, Inc., a Maryland corporation and wholly owned subsidiary of the Company ("Merger Sub"). Apollo is also taking steps to empower the full board of directors to retain authority for managing the business by amending its current charter to eliminate the special governance rights provided to the Executive Committee. Apollo Global Management's $11 billion merger deal with offshore insurer Athene Holding is getting a cool reception on Wall Street despite the earnings accretion from the transaction. Apollo Global Management Inc. is moving to gain full control over Athene Holding Ltd., a large life insurer. Safety-first retirement planning helps to meet financial goals with less worry. This book explains how to evaluate different insurance options and implement these solutions into an integrated retirement plan. Information about the directors and executive officers of Athene is set forth in Athene’s proxy statement for its 2020 annual meeting of shareholders, which was filed with the SEC on April 21, 2020, its annual report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on February 19, 2021, and in subsequent documents filed with the SEC, each of which can be obtained free of charge from the sources indicated above. The merger of Apollo and Athene combines two growth companies providing products and services that are in high demand - investment returns and retirement income. Apollo Co-Founder and incoming CEO Marc Rowan said, “This merger is all about alignment between Apollo and Athene, amongst Apollo’s stockholders and with our limited partners. Zoom is a videoconferencing tool, and its core product is called Meetings; it's what most people likely think of first when Zoom is mentioned. However, such documents are not currently available. Apollo (NYSE: APO) and Athene (NYSE: ATH) have entered into a definitive agreement to merge in an all-stock transaction that . On August 19, 2021, Athene Holding Ltd., a Bermuda exempted company ("AHL"), granted a waiver to Leon Black (the "Stockholder") of his covenants and obligations under Section 1.03 (Transfer and Encumbrance) of the voting agreement dated March 8, 2021 between AHL . Do NOT follow this link! We believe that the merger provides numerous strategic benefits and positions Apollo to continue to grow, innovate and consistently generate attractive risk-adjusted returns for all . It is possible that actual results will differ, possibly materially, from the anticipated results indicated in these statements. There is no doubt that the merger has created a different kind of financial institution. Sharp and enchanting, Garrett Baldwin's The Man with the Big Red Balloon is a romping story of when good intentions meet impossible greed and a biting political satire of today's political world. But most times, there’s a good reason, and it’s usually based in fundamental unsoundness. On August 19, 2021, Athene Holding Ltd., a Bermuda exempted company ('AHL'), granted a waiver to Leon Black (the 'Stockholder') of his covenants and obligations under Section 1.03 (Transfer and Encumbrance) of the voting agreement dated March 8, 2021 between AHL and the Stockholder, Joshua Harris and Marc Rowan (the 'Principals Voting Agreement'), solely with respect to 6,000,000 of the . Due diligence on both sides is progressing and we belie. The deal is expected to close in January 2022. And it further aligns interests with our fund investors, giving us a bigger balance sheet to invest alongside clients in our various fund products.”, Apollo Founder and Chairman Leon Black said, “Apollo occupies an enviable position in our industry, and we have been keenly focused on how to evolve our differentiated platform for long-term success. Forward looking statements within this press release include, but are not limited to, statements regarding: the consummation of the proposed merger and the benefits to be derived therefrom; the future financial performance and growth prospects of the combined entity; the market environment in which the combined entity will operate; future capital allocation decisions, including the payment of dividends; the structure and operation of the company post-merger; and the tax treatment of the proposed transaction. Found inside – Page i" Choice "This collection of twenty eight articles on interpreting Greco-Roman culture presents a comprehensive, multidisciplinary approach to examining Greek mythology within the broader context of the intellectual and cultural development ... In 2017, Athene paid more than $400m to Apollo for managing its portfolio which included credit instruments linked to residential mortgages, corporate debt, aircraft leasing. In 2019, Apollo cut its voting stake in Athene from 45 percent to appease the shareholders. Creating the Largest and Most Profitable U.S. Cannabis Operator, Here are five places to invest for income that Wall Street is overlooking, says Fidelity manager. APOLLO GLOBAL MANAGEMENT, INC. : Other Events (form 8-K) Item 8.01. Earlier this month, Apollo Global Management, Inc announced that it has entered into an agreement to merge with Athene Holding Ltd, its insurance affiliate, in an all-stock transaction. Information about the directors and executive officers of Apollo and HoldCo is set forth in Apollo’s proxy statement for its 2020 annual meeting of stockholders, which was filed with the SEC on August 20, 2020, its annual report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on February 19, 2021, and in subsequent documents filed with the SEC, each of which can be obtained free of charge from the sources indicated above. What's Going On With Naked Brand's Stock Today? The volume is part of a pair together with Prehistoric, Ancient Near Eastern and Aegean Textiles and Dress: an interdisciplinary anthology edited by Mary Harlow, C_cile Michel and Marie-Louise Nosch It resembles a bank with its highly capitalized insurance business but providing other services such as asset management and private equity. M&A activity in the health care industry is at its highest level since the 1980s. Organized into four parts, this guide includes practical advice on how to address the various industry-specific issues arising in health care acquisitions. Available for the first time in paperback, this volume includes twenty-two chapters by international experts covering the entire history of technology from humankind's earliest use of stone tools to the exploration of space. On March 8, 2021, Athene announced that it had signed an agreement to be acquired by Apollo for approximately $11 billion. The merger was also inevitable because Athene provided Apollo a strong capital source and accounted roughly one-third of Apollo’s asset base. Chairman Leon Black, Co-Founder Josh Harris and Lead Independent Director Jay Clayton will continue to serve in their respective roles. NEW YORK and HAMILTON, Bermuda, March 08, 2021 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) and Athene (NYSE: ATH) have entered into a definitive agreement to merge in an all-stock transaction that implies a total equity value of approximately $11 billion for Athene. Literary Paternity, Literary Friendship: Essays in Honor of Stanley Corngold The merger is not predicated on synergies of personnel or cost savings, and the combined company expects to grow its workforce commensurate with growth of the business. Athene & Apollo Have Had a Long and Successful Relationship 2 Founding 2009 2013 2018 2019 2020 IPO 2016 Hybrid Value Fund I Strategic Transaction ADIP Platforms Apollo-Athene Merger Seeded Notes: For illustrative and discussion purposes only. If Apollo’s non-Athene assets back Athene’s liabilities, pre-deal investors may find themselves in an unanticipated situation. Originating in archaic parables of the Garden and the Citadel, gender allegories have been projected upon built environments throughout history. Under the terms of the transaction, each outstanding Class A common share of Athene will be exchanged for a fixed ratio of 1.149 shares of . The stronger capital base and complete alignment will allow the company to rapidly scale asset and liability origination, broaden distribution channels and act as a leading global solutions provider. 2016. the agreement to purchase Michaels Companies for $3.3 billion in equity and the assumption of $1.7 . To move further, we will also use data about Apollo and Athene operations (I provided a short review in "The Apollo - Athene Merger Will Unlock Value"). 265 0 obj <>/Filter/FlateDecode/ID[<083CC2693D82254DA0190FAA62FDE338>]/Index[246 30]/Info 245 0 R/Length 100/Prev 190723/Root 247 0 R/Size 276/Type/XRef/W[1 3 1]>>stream Bristol Myers Squibb's (NYSE: BMY) shares are down slightly year to date. Under the terms of the transaction, each outstanding Class A common share of Athene will be exchanged for a fixed ratio of 1.149 shares of Apollo common stock. Pursuant to the merger agreement, Athene stockholders will receive 1.149 shares of Apollo common stock for each share of Athene common stock owned. This means that Apollo, known for distressed buyouts without tying up too much capital of its own, was now a capital-intensive business with an insurance wing. Apollo to Move to Single Share Class with “One Share, One Vote”, Transaction will be Substantially Accretive, Proforma Company with Industry-leading Corporate Governance to be S&P 500 Eligible, Companies to Host Conference Call Today at 8:30 am EST.
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