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Stock Market & Financial Investment News

News Breaks
January 31, 2013
05:01 EDTAPOApollo, 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
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March 24, 2015
14:34 EDTAPOGreat Wolf Resorts to be acquired by affiliate of Centerbridge Partners
Great Wolf Resorts announced that it has entered into a definitive agreement and plan of merger with an affiliate of Centerbridge Partners, whereby Centerbridge will acquire Great Wolf. Great Wolf is currently controlled by funds affiliated with Apollo Global Management (APO).
08:35 EDTAPOSpecial examiner may force bankruptcy for Caesars Growth Partners, NY Post says
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March 20, 2015
06:47 EDTAPOCreditors dispute 'inside deals' surrounding Caesars loyalty program, WSJ says
Caesars Entertainment's (CZR) customer loyalty program has been valued at $1B by creditors, who alleged in lawsuits surrounding its January bankruptcy that the Caesars parent company and majority stake holder Apollo (APO) made several improper deals designed to keep the loyalty unit inaccessible to creditors, reports the Wall Street Journal. Fitch Ratings analyst Alex Bumazhny now calls a swift bankruptcy process "increasingly unlikely," while the presiding judge gave additional scope last week to investigate the disputed deals. Reference Link
March 19, 2015
07:55 EDTAPOMolycorp bondholders led by Apollo close to hiring Blackstone, Bloomberg says
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March 18, 2015
15:22 EDTAPOMolycorp creditors close to hiring Blackstone, Bloomberg says
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07:27 EDTAPOFreeport seeks funding from Blackstone, Apollo, Reuters says
Freeport McMoRan (FCX) has hired Goldman Sachs (GS) and Barclays (BCS) to find private equity firms willing to finance certain of its energy projects and asset developments, reports Reuters, citing people familiar with the matter. Freeport is in talks with Blackstone (BX), Apollo (APO), and Warburg Pincus about a potential partnership. The sources say the firm may be seeking "several billion dollars," though discussions are in "very early" stages. Reference Link
07:18 EDTAPOWells Fargo to hold a forum
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