Apollo undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. Apollo Global Management APO has announced an all-stock deal worth $11 billion to merge with Athene Holding ATH. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. Firm claims ex-workers helped others form competing business, Suit is part of continuing fight with Caldera founder Siddiqui. The firm has also been building up its presence in Europe. (Disclosure: Apollo Global Management is the parent company of Yahoo Finance.). analyse how our Sites are used. or The deal would create a $29 billion conglomerate and put . The Apollo-Athene Merger Will Unlock Value - SeekingAlpha The relationship has delivered hundreds of millions of dollars in asset management fees to Apollo, an amount the lawsuit called "exorbitant", citing an FT investigation that reported Apollo's. (212) 822-0491. The lawsuit filed in New York on Friday is the latest salvo in a long-running dispute between the private equity firm led by Leon Black and Imran Siddiqui, a former Apollo executive. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. ", "Private equity was not immune to that," he added. Allie Garfinkle is a Senior Tech Reporter at Yahoo Finance. NEW YORK, Jan. 03, 2022 (GLOBE NEWSWIRE) -- Apollo and Athene today announced the successful completion of their merger under Apollo Global Management, Inc. (NYSE: APO), a high-growth alternative asset manager with asset management and retirement services capabilities. Yet Athene's shares underperformed the insurance sector following its stock market debut in 2016, prompting a bid from Apollo for its assets. Compare Standard and Premium Digital here. offers FT membership to read for free. and and Click here for the latest trending stock tickers of the Yahoo Finance platform. Premium access for businesses and educational institutions. , while Athene will continue to be led by its CEO The allegations were made in response to a July 12 lawsuit in which the former executive, Imran Siddiqui, said Apollo and Black tried illegally to undermine his new venture, Caldera Holdings. In March, Apollo announced plans to acquire chemical company Univar Solutions for $8.1 billion in an all-cash transaction. News Corp is a global, diversified media and information services company focused on creating and distributing authoritative and engaging content and other products and services. For a full comparison of Standard and Premium Digital, click here. The relationship between Apollo and Athene went under public pressure in 2019, when it was found out that Apollo was significantly overcharging Athene compared to the market standards. Bermuda court issues temporary injunction to block Apollo, Athene lawsuit The Central Laborers' Pension Fund's lawsuit claims that Apollo is charging "extravagantly expensive" fees that reach hundreds of millions of dollars annually. Apollo Proposes Merger With Insurance Firm Athene - Business Insider university , Co-Presidents of Apollo Asset Management. Caldera has said he denied possessing confidential Apollo materials. Global Head of Investor Relations, Apollo Mar 8, 2021, 1:57 PM PST. Athene Holding Ltd. and Apollo Global Management LLC have obtained a temporary injunction from a Bermuda court blocking a pension fund's lawsuit claiming that Apollo is "looting" the insurance company from going forward, the Financial Times reported.

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