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Private equity firm Apollo Global Management LLC (APO) is in advanced negotiations to acquire U.S. telephone conferencing services provider West Corp (WSTC), people familiar with the matter said on Thursday.
Update(s):
May 01, 2017: Buyout firm Apollo Global Management LLC (APO) is seeking to convince U.S. telephone conferencing services provider West Corp (WSTC) to lower its price expectations and accept a $2 billion acquisition offer, according to people familiar with the matter.
May 10, 2017: West Corporation (WSTC), a global provider of communication and network infrastructure services, today announced it has entered into a definitive agreement with affiliates of certain funds managed by affiliates of Apollo Global Management, LLC (APO), a leading global alternative investment manager, pursuant to which the Apollo funds will acquire all of the outstanding shares of West common stock for $23.50 per share in cash.