International Game Technology (IGT) reported a third-quarter loss that missed analyst expectations despite revenue growth, driven by the sale of its Gaming & Digital business to Apollo Global Management. The company expects strong revenue in the fourth quarter and fiscal year 2024.
Apollo Global Management (APO) stock is on the rise today after announcing an extension of its multi-billion dollar partnership with Mubadala Investment Company, aimed at boosting global origination opportunities. This strategic move strengthens Apollo’s Capital Solutions business and further positions the firm as a leading provider of customized financing solutions. The partnership extension builds upon prior successful collaborations, including a $2.5 billion joint venture for global private credit investments. In a separate development, Apollo’s aviation lending platform, PK AirFinance, secured a $550 million loan facility for 23 aircraft, highlighting the company’s expanding reach in the aviation sector.
Shares of ADT Inc. (ADT) are trading lower by 6.5% after the company announced a proposed secondary public offering of 56 million shares and a concurrent 16 million share repurchase by selling shareholder Apollo Global Management. The offering is expected to close on October 30th, 2024.
Barnes Group, Inc. (B) reported a strong third quarter with revenue exceeding expectations, driven by booming demand in its Aerospace segment. The company’s Aerospace OEM backlog surged 19% sequentially, reflecting optimism for future industry growth. However, the company announced it will be acquired by Apollo Global Management in an all-cash deal valued at $3.6 billion, leading to the suspension of its financial guidance for the year.
Citigroup and Apollo Global Management have joined forces to create a massive $25 billion private credit and direct lending program. This partnership aims to provide corporate and sponsor clients with greater access to private lending capital, ensuring funding certainty for strategic transactions. The program is expected to finance a significant amount of debt opportunities over the next few years and could potentially expand beyond North America.
Intel is facing a pivotal moment, juggling a potential multi-billion dollar investment from Apollo Global Management, a Qualcomm takeover bid, and the need to regain its footing in the semiconductor market. Despite facing challenges, including job cuts and market share losses, Intel is pushing forward with new product launches and strategic partnerships. The future of Intel remains uncertain, but the coming year could see significant changes for the company.
Intel’s stock price rose significantly in pre-market trading on Monday, fueled by news of a potential multi-billion dollar investment from Apollo Global Management and interest in acquisition from Qualcomm. This follows a challenging year for Intel, marked by a significant drop in its share price.
Apollo Global Management is reportedly considering a significant investment in Intel, potentially injecting up to $5 billion into the struggling chip giant. This comes amid speculation of a potential Qualcomm takeover of Intel, which could create one of the largest M&A deals in history. Intel’s recent performance and internal conflicts have raised concerns about its future direction.
BP has agreed to sell a non-controlling stake in its subsidiary, bp Pipelines TAP Limited, to Apollo Global Management for approximately $1 billion. The deal will allow BP to meet its divestment goals and explore further investments in gas and low-carbon energy, while Apollo gains access to a stable, long-term infrastructure asset.
Apollo Global Management, a leading global alternative investment manager, has partnered with State Street Global Advisors to broaden investor access to private market opportunities. The partnership aims to leverage the combined strengths of both companies to enhance investor access to the private credit market, particularly for those seeking resilient and diversified portfolios.
