Apollo Global Agrees to Buy Fresh Market for About $1.36 Billion

Apollo Global Management LLC agreed to buy grocery chain Fresh Market Inc. for $28.50 a share in cash, or about $1.36 billion, the companies said in a statement Monday.

The offer represents a 24 percent premium above Fresh Market’s closing price on March 11, the companies said. The transaction was unanimously approved by Fresh Market’s board of directors, with the exception of chairman Ray Berry who recused himself from board discussions. The deal is expected to close in the second quarter of 2016, the companies said.

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