Monday, 30 November 2015
Last updated 4 hours ago
Dec 21 2006 | 10:22am ET
Apollo Management has entered into a definitive agreement to acquire real estate franchiser Realogy Corporation in a transaction valued at approximately $9 billion. The deal includes the assumption or repayment of approximately $1.6 billion of debt and other liabilities of approximately $750 million.
Under the terms of the agreement, Realogy stockholders will receive $30 per share in cash at closing. In addition, the total transaction value represents a multiple of approximately 11 times the mid-point of the Realogy's previously released 2006 EBITDA guidance before restructuring and spin-off-related costs, and approximately 12 times the consensus Wall Street estimate of 2007 Realogy EBITDA, accroding to the company.
Realogy may solicit alternative proposals from third parties until Feb. 14.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…