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Apollo Global Management stock price
Apollo Global Management latest news:
BRIEF-Double Eagle Energy Holdings III Secured Equity Commitments Of More Than $1 Billion
Double Eagle Energy Holdings III. * DOUBLE EAGLE ENERGY HOLDINGS III - SECURED EQUITY COMMITMENTS OF MORE THAN $1 BILLION, ANCHORED BY FUNDS MANAGED BY AFFILIATES OF APOLLO GLOBAL MANAGEMENT Source text for Eikon: Further company coverage:
Claire's Stores hires Lazard to advise it on reducing debt
Troubled retailer Claire's stores Inc. has hired Lazard as its investment banker to help it reduce debt. "Lazard's engagement is not related to operations, which remain strong," the company said in a statement. Same-store sales rose 2.7% in the first three quarters of 2017 and adjusted EBITDA -- defined as earnings before income taxes, net interest expense, depreciation and amortization, loss (gain) on early debt extinguishments, and asset impairments -- has grown 18.3%. "The steps we are taking now with Lazard will help to ensure Claire's long-term success for years to come," Chief Executive Ron Marshall said in the statement. "We believe this is the right time to undertake this initiative and we want to assure our vendors, employees and stakeholders that we believe we have ample liquidity to honor our commitments through the completion of this process." Claire's has $2.2 billion of long-term debt, according to FactSet, most of it taken on when the company was bought out by Apollo Global Management for $3.1 billion in a 2007 LBO. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
ADT prices IPO below target
ADT Inc. said Thursday that it is pricing its initial public offering at $14 a share, which is below the $17 to $19 range the company targeted. The company is expected to start trading Friday and is listed on the New York Stock Exchange under the ticker "ADT." At $14 a share, the company has raised about $1.6 billion, suggesting a market capitalization of just over $10 billion. Morgan Stanley, Goldman Sachs, Barclays, Deutsche Bank Securities, and RBC Capital Markets are acting as joint book-runners for the IPO. Private equity firm Apollo Global Management took the firm private in a $6.9 billion leveraged buyout in February 2016. Apollo will continue to own a majority stake, making it a "controlled company" under NYSE rules. According to the company's prospectus, a survey found that ADT has 95% brand awareness. ADT hasn't yet released its 2017 financial results and has only been able to offer investors expectations ahead of the IPO.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Why OneMain Holdings Stock Soared Today
Private equity funds managed by Apollo Global Management and Varde Partners are taking a 40.5% stake in the consumer lender.
Exclusive: Apollo nears deal for Fortress' stake in OneMain - sources
(Reuters) - Private equity firm Apollo Global Management LLC is nearing a deal to acquire investment firm Fortress Investment Group LLC's stake in U.S. subprime lender OneMain Holdings Inc , people familiar with the matter said on Wednesday.
ADT files for IPO, Apollo will retain control
ADT Inc., a home-security company that was acquired in 2016 by Apollo Global Management LLC , plans to return to the public markets. The company filed for an initial public offering with the Securities and Exchange Commission on Thursday, though Apollo plans to hold more than 50% of the shares, which will make ADT a "controlled company." The SEC filing lists a target of $100 million for the IPO, though that is typically a placeholder figure used to estimate fees that is changed in later versions. Apollo combined ADT with another home-security company it acquired, known as Protection 1, and the new entity produced a net loss of $295.6 million on revenue of $3.21 billion in the first nine months of 2017, according to the filing. The company plans to list the stock on the New York Stock Exchange under the ticker symbol ADT.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Jack in the Box to sell Qdoba for $305 million
Restaurant chain operator Jack in the Box said it would sell its Qdoba Restaurant Corp to funds affiliated with Apollo Global Management for about $305 million in cash. Julia Sun reports.
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