Deals
Apollo Is Next S&P 500 Contender as Athene Deal Opens Door
- Camden Property, Steel Dynamics are also possible entries
- Index changes, potential Russia decisions, awaited Friday
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Apollo Global Management Inc., the buyout firm, on Friday may find out if its acquisition of insurer Athene Holding Ltd. bought it a ticket into the S&P 500 Index.
The merger removed an impediment to Apollo’s inclusion in the U.S. stock-market benchmark by creating one class of voting shares, replacing the multi-tier structure that had made it ineligible. With a market capitalization of more than $37 billion, it’s one of the largest U.S. companies eligible to be added to the S&P 500 -- a possibility that Apollo raised in connection with the acquisition.