Apollo Global finalizes purchase of Bridge Investment
Apollo (APO) and Bridge Investment Group (BRDG) announced that Apollo has completed the previously announced acquisition of Bridge in an all-stock transaction. As a platform company within Apollo's asset management business, Bridge will retain its existing brand, management and investment teams and dedicated capital formation team. Pursuant to the terms of the transaction, Bridge stockholders and Bridge OpCo unitholders are entitled to 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, valued by the parties at $11.50 per each share of Bridge Class A common stock and Bridge OpCo Class A common unit, respectively. As a result of the completion of the acquisition, Bridge's common stock has ceased trading on the New York Stock Exchange.
