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Stock Market & Financial Investment News

News Breaks
January 16, 2014
06:09 EDTCEC, APOCEC Entertainment agrees to be acquired by Apollo affiliate for $54 per share
An affiliate of Apollo Global (APO) and CEC Entertainment (CEC) announced that they have entered into a definitive merger agreement whereby Apollo will acquire CEC for approximately $1.3B, including the assumption of the companyís outstanding debt. Apolloís $54.00 per share all cash offer represents a premium of approximately 25% over CECís closing share price on January 7, the last trading day prior to media speculation regarding a possible transaction and a premium of approximately 36% over the twelve-month volume weighted average share price for the period ending January 7. The announcement follows a thorough review of strategic alternatives undertaken by the CEC board to maximize shareholder value. The transaction was unanimously approved by the CEC Board, which recommends that CEC shareholders tender their shares in the offer. Under the terms of the agreement, the Company may solicit superior proposals from limited third parties until January 29. There can be no assurances that this process will result in a superior proposal, and the Company does not intend to discuss any developments with regard to this process unless the company's board makes a decision with respect to a potential superior proposal.
News For CEC;APO From The Last 14 Days
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October 30, 2014
06:40 EDTAPOApollo Global reports Q3 EPS (5c), may not compare to consensus 38c
Reports Q3 revenue $221.14M, consensus $394.57M. Reports Q3 total Assets Under Managemnt $163.9B, up 45% vs. a year ago. Reports Q3 ENI after taxes 12c per share.
October 29, 2014
12:59 EDTAPOPrivate equity firms preparing initial bids for PetSmart auction, WSJ says
Private equity firms including Apollo Global Management (APO), Hellman & Friedman and KKR (KKR) are said to be preparing initial bids for pet-supply retailer PetSmart (PETM), says the Wall Street Journal. PetSmart which is based in Phoenix and has around 1,350 stores has a market capitalization of around $7B, added the Wall Street Journal. Shares of PetSmart are up almost 3% or $1.98, to $72.06 in midday trading. Reference Link
October 24, 2014
08:06 EDTAPOExpress Energy Services agrees to be acquired by Apollo Funds
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