Transportation
Apollo to Pay $3.6 Billion for Aerospace Manufacturer Barnes
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Apollo Global Management Inc. agreed to buy Barnes Group Inc. in an all-cash transaction that values the technology and aerospace manufacturer at about $3.6 billion.
Barnes shareholders will receive $47.50 a share in cash, the companies said. The price represented a 22% premium over Barnes’ closing share price on June 25, the day before reports emerged the company was exploring options including a sale. The transaction is expected to close before the end of the first quarter of 2025.