All articles tagged with #apollo global
Papa John’s shares dropped 15% after reports that Apollo Global withdrew its $64 per share bid to take the company private, amid broader challenges in the restaurant sector such as sluggish sales and rising costs.
Apollo Global Management is acquiring a majority stake in Stream Data Centers to capitalize on the rising demand for digital infrastructure driven by AI, with plans to develop data centers in major US cities and potentially invest billions in this sector.
A Paramount Global investor, Matrix Asset Advisors, criticized Shari Redstone's deal to sell the company to Skydance Media, claiming it would benefit Redstone at the expense of regular shareholders. The investor urged Paramount's board to reject the deal and reconsider a $26 billion bid from Apollo Global, expressing concerns that the proposed transaction would be detrimental to the company's value and non-controlling shareholders. Paramount, formed by the merger of Viacom and CBS in 2019, has seen its stock lose nearly half of its value in the past year, and the investor emphasized the need for fair consideration of all shareholders' interests.
Apollo Global has reportedly made an $11 billion bid for Paramount Global's film and TV studio, causing the company's stock to surge over 11%. The board is reviewing the offer, while other suitors like Skydance Media and Byron Allen are also in the mix. Paramount Global, battling streaming losses and high debt, has been a takeover target for months without any deal. Majority shareholder Shari Redstone has been reluctant to sell off the studio, complicating potential deals involving National Amusements, Warren Buffett, and Mario Gabelli. The company has stated it will consider all offers while undergoing retrenching and divesting non-core assets.