Barnes Group to Be Acquired by Apollo in $3.6 Billion All-Cash Transaction

MT Newswires Live

Oct 07, 2024

Barnes Group (B) said Monday that it has entered a definitive agreement to be acquired by funds managed by affiliates of Apollo Global Management (APO) in an all-cash transaction valuing the company at about $3.6 billion.

Barnes shareholders will receive $47.50 per share in cash. The transaction is expected to close before the end of Q1 2025.

The company said its board of directors unanimously approved the acquisition and recommended that shareholders to vote in favor of the deal.

Upon completion, Barnes will be delisted from the New York Stock Exchange and become a privately held company but will continue to operate under the Barnes Group name, the company said.

The company suspended its financial guidance for the full-year 2024 as a result of the pending transaction.

Barnes Group shares were 2.4% higher in recent premarket trading.

Price: 45.12, Change: -0.14, Percent Change: -0.31

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