BUZZ-Bridge Investment Group rises after Apollo to buy co for about $1.5 billion
ReutersFeb 24, 2025 1:34 PM
Shares of real estate firm Bridge Investment Group BRDG.N rise 35.2% to $10.70 premarket
Alternative asset manager Apollo Global Management APO.N says it will buy the company for about $1.5 billion in an all-stock deal
Deal is expected to close in Q3 of 2025
Bridge to operate as a standalone platform within Apollo's asset management business, retaining its existing brand and management team
Shares of Apollo were up more than 1% in premarket trade
Shares of Bridge Investment, which holds a market cap of $960 million, fell 14.1% in 2024
BRDG down 5.7% YTD
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