|January 31, 2013|
|05:01 EDT||APO||Apollo, Metropoulos acquire majority of Hostess snack cake business for $410M|
Hostess Brands announced that the company has selected affiliates of Apollo Global and Metropoulos as the stalking horse bidder for the majority of the assets of the company's snack cake business, which includes both Hostess and Dolly Madison branded products, including the Twinkies brand. Apollo and Metropoulos have agreed to pay $410M to purchase the brands, 5 bakeries and certain equipment. Hostess Brands has requested that the U.S. Bankruptcy Court for the Southern District of New York authorize the company to proceed with an auction for the majority of the assets of the snack cake business on March 13, provided the company receives competing qualified bids. The company will select the highest and best offer at the conclusion of the auction. The sale to the winning bidder requires court approval.
News For APO From The Last 14 Days
Check below for free stories on APO the last two weeks.
|July 11, 2014|
|08:19 EDT||APO||Apollo Global valuation attractive after pullback, says BMO Capital|
After meeting with Apollo Global's CFO, BMO Capital is upbeat about the company's outlook. The firm expects the company's credit business to be a growth driver for years to come, although its private equity business is expected to show very slow growth, according to BMO Capital. The firm raised its price target on the shares to $36 from $35 and keeps an Outperform rating,
|July 10, 2014|
|11:21 EDT||APO||International Game Technology rises as GTECH reportedly prepares bid|
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|July 9, 2014|
|10:02 EDT||APO||On The Fly: Analyst Downgrade Summary|
Today's noteworthy downgrades include: Advanced Energy (AEIS) downgraded to Neutral from Buy at Dougherty... Apollo Global (APO) downgraded to Neutral from Buy at Citigroup... Artisan Partners (APAM) downgraded to Neutral from Buy at Citigroup... Autoliv (ALV) downgraded to Hold from Buy at Nordea... BNP Paribas (BNPQY) downgraded to Neutral from Overweight at JPMorgan... BP (BP) downgraded to Hold from Buy at Deutsche Bank... Carlyle Group (CG) downgraded to Neutral from Buy at Citigroup... Coach (COH) downgraded at Buckingham... Cummins (CMI) downgraded to Buy from Conviction Buy at Goldman... Garmin (GRMN) downgraded to Underperform from Sector Perform at Pacific Crest... Gigamon (GIMO) downgraded to Buy from Strong Buy at Needham... International Paper (IP) downgraded at RBC Capital... Louisiana-Pacific (LPX) downgraded at RBC Capital... Marvell (MRVL) downgraded to Underperform from Perform at Oppenheimer... McGraw Hill Financial (MHFI) downgraded to Market Perform at Raymond James... Moody's (MCO) downgraded to Market Perform from Outperform at Raymond James... Plum Creek Timber (PCL) downgraded at RBC Capital... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... RGS Energy (RGSE) downgraded at Cowen... Taminco (TAM) downgraded to Neutral from Buy at Citigroup... Total (TOT) downgraded to Hold from Buy at Societe Generale... Unilever (UN) downgraded to Reduce from Neutral at Nomura... VMware (VMW) downgraded to Market Perform from Outperform at Wells Fargo... Vectren (VVC) downgraded to Hold from Buy at KeyBanc.
|06:16 EDT||APO||Apollo Global downgraded to Neutral from Buy at Citigroup|
Citigroup downgraded Apollo Global to Neutral citing higher uncertainty around rising rates. Citi lowered its price target for shares to $28 from $32.