Saturday, 27 December 2014
Last updated 2 days 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.