Monday, 28 July 2014
Last updated 47 min 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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…