Apollo to Acquire Athene Through $11B Deal

March 9, 2021 by Allison Bell

Apollo Global Management Inc. is moving to gain full control over Athene Holding Ltd., a large life insurer.

The companies announced Monday that they have agreed to merge by swapping stock, through a transaction that implies a $11 billion total value for Athene. The combined company would have a market capitalization, or total stock value, of $29 billion. The companies hope to complete the deal in January 2022.

Under the agreement, Apollo shareholders would end up owning 76% of the combined company, and Marc Rowan, Apollo’s incoming CEO, would be the leader of the combined company, according to Apollo.

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Originally Posted at ThinkAdvisor on March 8, 2021 by Allison Bell.