Bridge Investment Group Holdings (BRDG): $10.49
Market Cap: $2.79B
Deal Value: $1.5B
Alternative asset manager Apollo Global Management (APO) has entered a merger agreement to acquire real estate investment firm Bridge Investment Group Holdings in an all-stock deal valued at $1.5 billion, expanding its real estate offerings.
Under the terms of the agreement, Bridge stockholders and Bridge OpCo unitholders will receive 0.07081 shares of Apollo stock for each share of Bridge Class A common stock and each Bridge OpCo Class A common unit, respectively. This exchange values Bridge Class A common stock and Bridge OpCo Class A common units at $11.50 per share, representing a 45.2% premium to the stock’s last closing price.