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Apollo and Athene to Merge in $11 Billion Transaction
- Client News
- March 8, 2021
Paul, Weiss is advising Apollo on the following transaction: Apollo (NYSE: APO) and Athene (NYSE: ATH) have entered into a definitive agreement to merge in an all-stock transaction that implies a total equity value of approximately $11 billion for Athene. Under the terms of the transaction, each outstanding Class A common share of Athene will be exchanged for a fixed ratio of 1.149 shares of Apollo common stock. Upon closing of the merger, current Apollo shareholders will own approximately 76% of the combined company on a fully diluted basis, and Athene shareholders will own approximately 24%.
The Paul, Weiss team includes M&A partners John Scott, Ross Fieldston and Brian Finnegan, and counsel Jason Tyler and Siu Yan Lin; securities partner Tracey Zaccone; financing partners Gregory Ezring, Catherine Goodall and Brad Finkelstein; investment funds partners Matthew Goldstein and Victoria Forrester, and counsel Philip Heimowitz; intellectual property partner Claudine Meredith-Goujon; litigation partners Lewis Clayton and Andrew Ehrlich; tax partners Brad Okun and Brian Grieve; executive compensation partners Andrew Gaines, Jean McLoughlin and Jarrett Hoffman, and counsel Bruce Goldberger; and real estate partner Peter Fisch.