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Stock Market & Financial Investment News

News Breaks
June 9, 2014
07:37 EDTHK, APOHalcon Resources signs agreement with affiliates of Apollo Global
Halcón (HK) announced the signing of a definitive agreement with credit funds and accounts managed by affiliates of Apollo Global Management, LLC (APO), which will invest up to $400M in the company's wholly owned subsidiary, HK TMS. Upon closing, HK TMS will hold all of Halcón's acreage in Mississippi and Louisiana that is prospective for the TMS formation. The Company holds 100% of the common shares of HK TMS and is the sole manager of HK TMS. Apollo will contribute $150M in cash consideration for 150,000 of HK TMS preferred shares, and under certain circumstances, may acquire up to an additional 250,000 preferred shares of HK TMS on the same terms. Holders of the HK TMS preferred shares will receive quarterly cash dividends of 8% per annum. In conjunction with the issuance of the preferred shares, HK TMS agreed to assign a 4.0% overriding royalty interest, subject to reduction to 2.0% under certain circumstances, in 75 net wells to be drilled and completed on its TMS acreage. The number of wells subject to the ORRI will increase to the extent that Apollo subscribes for additional preferred shares, with a maximum of 200 net wells subject to such ORRI if Apollo subscribes for the full additional 250,000 preferred shares.
News For HK;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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