Deals
Big Lots Lease-Back Deal Said to Thwart Apollo Buyout Talks
- Buyout discussions with Apollo Global fell apart last week
- Big Lots lease-back deal was a hindrance to transaction
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Apollo Global Management Inc. was close to buying discount furniture retailer Big Lots Inc. until discussions fell apart, according to people with knowledge of the matter.
The talks collapsed last week due to terms tied to the company’s agreement this year to sell and lease back some distribution centers to Oak Street Real Estate Capital, said the people, who asked to not be identified because the discussions were private. The talks with Apollo are unlikely to be revived, this people said.