We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Apollo Global Might Announce Arconic Buyout by Mid-January
Read MoreHide Full Article
Per a Bloomberg article, Apollo Global Management LLC (APO - Free Report) is likely to announce a deal to acquire Arconic Inc by mid-January. Citing people familiar with the matter, the report said that the purchase price is expected to be $22 per share.
Shares of Arconic rallied 9.7% after the news of intended acquisition reached the market. However, the final price is still being decided upon and there are chances of the deal being cancelled.
The companies involved are in discussions to strike a deal that would protect Apollo from one of Arconic’s potential liability related to an apartment fire that happened in London in 2017.
Also, people familiar said that Arconic would have to spin off its cladding business, the division responsible for making aluminium panels, as part of acquisition agreement.
A New York-based hedge fund, Elliott Management Corp., which is part of Arconic’s board, would be buying majority stake in the cladding business. On the other hand, Elliot would roll over 10.7% interest in Arconic as part of the take-private transaction with Apollo, per the article.
Sources also mentioned that the key hurdles in the deal could be securing financing and further stock market volatility.
In August 2018, Apollo had inked an all-cash deal worth $2.6 billion to acquire Aspen Insurance Holdings . The transaction is expected to be completed in the first half of 2019, subject to closing conditions.
The acquisition would boost Apollo’s resources and expertise in financial services such as underwriting capabilities and proficiency, which along with long-standing client relationships have helped Apollo solidify its market position.
This Zacks Rank #5 (Strong Sell) stock has lost around 27% over the past six months compared with 21.6% decline recorded by the industry.
A better-ranked stock in the financial space to consider is Bank of Marin Bancorp (BMRC - Free Report) . The company has witnessed slight upward estimate revisions for 2018 for the past 60 days. Additionally, the stock has jumped more than 20% in the past year. It currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
Apollo Global Might Announce Arconic Buyout by Mid-January
Per a Bloomberg article, Apollo Global Management LLC (APO - Free Report) is likely to announce a deal to acquire Arconic Inc by mid-January. Citing people familiar with the matter, the report said that the purchase price is expected to be $22 per share.
Shares of Arconic rallied 9.7% after the news of intended acquisition reached the market. However, the final price is still being decided upon and there are chances of the deal being cancelled.
The companies involved are in discussions to strike a deal that would protect Apollo from one of Arconic’s potential liability related to an apartment fire that happened in London in 2017.
Also, people familiar said that Arconic would have to spin off its cladding business, the division responsible for making aluminium panels, as part of acquisition agreement.
A New York-based hedge fund, Elliott Management Corp., which is part of Arconic’s board, would be buying majority stake in the cladding business. On the other hand, Elliot would roll over 10.7% interest in Arconic as part of the take-private transaction with Apollo, per the article.
Sources also mentioned that the key hurdles in the deal could be securing financing and further stock market volatility.
In August 2018, Apollo had inked an all-cash deal worth $2.6 billion to acquire Aspen Insurance Holdings . The transaction is expected to be completed in the first half of 2019, subject to closing conditions.
The acquisition would boost Apollo’s resources and expertise in financial services such as underwriting capabilities and proficiency, which along with long-standing client relationships have helped Apollo solidify its market position.
This Zacks Rank #5 (Strong Sell) stock has lost around 27% over the past six months compared with 21.6% decline recorded by the industry.
A better-ranked stock in the financial space to consider is Bank of Marin Bancorp (BMRC - Free Report) . The company has witnessed slight upward estimate revisions for 2018 for the past 60 days. Additionally, the stock has jumped more than 20% in the past year. It currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>