As of September 30, 2022, Apollo had approximately $523 billion of assets under management. Distributed by Public, unedited and unaltered, on 17 October 2022 20:42:04 UTC. Prior results do not guarantee similar outcomes. Through Athene, Apollos retirement services business, it specializes in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. For investor inquiries regarding Apollo, please contact: Tenneco Inc. published this content on 17 October 2022 and is solely responsible for the information contained therein. There are no apparent competitive concerns with this merger. announced today it has entered into a definitive agreement to be acquired by funds managed by affiliates of Apollo. In addition, the Company is not providing financial guidance for 2022 as a result of the pending transaction. The merger simply replaces one foreign actor for another; with both actors being U.S.-held entities. NEW YORK, Oct. 31, 2022 (GLOBE NEWSWIRE) -- Pegasus Merger Co. (Merger Sub), which is owned by certain investment funds managed by affiliates of Apollo Global Management, Inc., today announced that, in connection the proposed acquisition of Tenneco Inc. (Tenneco), it intends to offer $1.0 billion in aggregate principal amount of senior secured notes due 2028 (the Notes) in a private offering. Veteran executive Jim Voss has been appointed CEO of Tenneco, effective immediately and as previously announced. Tenneco Shareholders to Receive $20.00 Per Share in Cash, Representing 100.4% Premium. To learn more, please visit www.apollo.com. In light of the announced transaction with Apollo, Tenneco has cancelled the earnings conference call previously scheduled for February 24. Apollo Global Management Inc. said Wednesday it agreed to pay a roughly 100% premium to buy Tenneco Inc., sending shares of the clean air and powertrain system manufacturer up sharply. I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in TEN over the next 72 hours. LAKE FOREST, Ill., Feb. 23, 2022 /PRNewswire/ -- Tenneco (NYSE: TEN) announced today it has entered into a definitive agreement to be Apollo is a global private equity firm while Tenneco is a leader in design and manufacturing of original and aftermarket engine, suspension, air, and powertrain components. Apollo Global Management, Inc. SKOKIE, Ill. and NEW YORK, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Tenneco and Apollo (NYSE: APO) today announced that funds managed by Apollo affiliates (the Apollo Funds) have completed the previously announced acquisition of Tenneco, a leading designer, manufacturer and marketer of automotive products for OEM and aftermarket customers. SKOKIE, Ill. and NEW YORK, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Tenneco and Apollo (NYSE: APO) today announced that funds managed by Apollo affiliates (the Apollo Funds) have completed the previously announced acquisition of Tenneco, a leading designer, manufacturer and marketer of automotive products for OEM and aftermarket customers. Feb 2. This press release is for informational purposes only and is not an offer to buy, nor the solicitation of an offer to sell any of the Notes. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Tenneco Inc. published this content on 28 October 2022 and is solely responsible for the information contained therein. SKOKIE, Ill. and NEW YORK, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Tenneco and Apollo (NYSE: APO) today announced that funds managed by Apollo As previously announced, this transaction was unanimously approved by Tenneco's Board of Directors, who recommended that the Company's shareholders approve the transaction. Post author: Post published: April 6, 2023; Post category:
Bragar Eagel & Squire
tenneco apollo merger. Furthermore, failure to consummate the transaction for lack of debt funding puts Apollo on the hook to pay a $108m reverse termination fee. Advisors. All quotes delayed a minimum of 15 minutes. The final voting results on the proposals voted on at the annual meeting will be set forth in a Form8-Kfiled by Tenneco with the U.S. Securities and Exchange Commission. The Chainsmokers Are Dancing Through the Silicon Valley Downturn, Biden Wants to Prevent Total Bans on Transgender Student Athletes, Startup Pushing Equity in Banking Accused of Discrimination, Biden Is Set to Propose Toughest-Ever Rules on Car Pollution to Spur EVs, Palm Oil Cultivation Is Destroying Forests. These statements are subject to many risks, uncertainties and unknown future events that could cause actual results to differ materially. To learn more, please visit www.apollo.com. Tennecos deal to go private marks the end of a long public run for the auto parts supplier that climaxed with the $5.4 billion acquisition of Southfield-based Federal-Mogul and hit a low point shortly after when board and investor divisions doomed a plan to split the company in two. Actual results and outcomes may differ materially from what is contained in such forward-looking statements as a result of various factors, including, without limitation: (1) the inability to consummate the Merger within the anticipated time period, or at all, due to any reason; (2) the risk that the Merger disrupts the Company's current plans and operations or diverts management's attention from its ongoing business; (3) the effect of the announcement of the Merger on the ability of the Company to retain and hire key personnel and maintain relationships with its customers, suppliers and others with whom it does business; (4) the effect of the announcement of the Merger on the Company's operating results and business generally; (5) the amount of costs, fees and expenses related to the Merger; (6) the risk that the Company's stock price may decline significantly if the Merger is not consummated; (7) the nature, cost and outcome of any litigation and other legal proceedings, including any such proceedings related to the Merger and instituted against the Company and others; and (8) other risks to consummation of the proposed Merger. The transaction is expected to close in the second half of 2022, subject to customary closing conditions and receipt of regulatory approvals. I have no business relationship with any company whose stock is mentioned in this article. With that said, it does not appear that Apollo overpaid for Tenneco. While the ballooning spread between Tenneco's buyout and market price February 23, 2022 - 7:00 am. Based on the forgoing, this merger arbitrage presents a compelling opportunity. Pursuant to the terms of the transaction, an affiliate of the Apollo Funds acquired all of the outstanding shares of Tenneco stock. Webangus council phone number montrose. These statements are based on the Company's current expectations, estimates and assumptions and are subject to many risks, uncertainties and unknown future events that could cause actual results to differ materially. Date of Report (Date of earliest event reported): October 28, 2022 (October 25, 2022), (Exact Name of Registrant as Specified in Charter), Registrant's telephone number, including area code: (847)482-5000. All conditions to closing under the Merger Agreement with respect to antitrust and/or foreign direct investment laws have been satisfied or waived in accordance with the terms and conditions of the Merger Agreement. Copyright 2023 Surperformance. In light of the market downturn and Tenneco's increasing cost of borrowing, the company's equity would likely trade much lower than $10/sh in the event of a transaction break. Contact Information. Through our four business groups, Motorparts, Performance Solutions, Clean Air and Powertrain, Tenneco is driving advancements in global mobility by delivering technology solutions for diversified global markets, including light vehicle, commercial truck, off-highway, industrial, motorsport and the aftermarket. About Bragar Eagel & Squire, P.C. This is bad news considering, on an LTM basis, Tenneco had only a 1.5x GAAP interest coverage ratio. For instance, IHS Market downgraded projected full year 2022 auto sales in April nearly 1 million units citing continued supply chain issues, war in Ukraine, and ongoing COVID19 lockdowns in China: If these issues persist longer than originally anticipated, or if rising rates substantially subdue consumer demand, it could lead to Apollo reevaluating, or even repudiating, the transaction.
At this point, the interest rate Apollo will obtain to refinance the debt remains uncertain; and it could end up outside the rate Apollo modeled for when deciding to enter the transaction. Tenneco TEN stock jumped 96% to $19.53 in premarket trading. LAKE FOREST, Ill., Feb. 23, 2022 /PRNewswire/ -- Tenneco (NYSE: TEN) announced today it has entered into a definitive agreement to be acquired by funds These and other factors are identified and described in more detail in Tenneco's Annual Report on Form 10-K for the year ended December 31, 2021, as well as Tenneco's subsequent filings and is available online at www.sec.gov. Delayed Nyse Most are antitrust-related but two focus on foreign investment. The lenders have decided to launch the leveraged loan and high-yield bond offerings after the US Labor Day holiday, which falls on Sept. 5 this year, in the hopes that the later timing will provide a calmer backdrop for bringing in investors, according to people familiar with the deal who requested anonymity discussing a private transaction. Feb 28 (Reuters) - Apollo Global Management Inc (APO.N) negotiated a carve-out earlier this month in its agreement to acquire auto parts maker Tenneco Inc in February, with the spread widening to over 25% as of the date of this publication: to make a spectacular +25% return in less than 6 months. The Notes will be offered only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A and outside the United States to non-U.S. Forward-looking statements may be identified by the context of the statement and generally arise when Tenneco or its management is discussing its beliefs, estimates or expectations. I am not receiving compensation for it (other than from Seeking Alpha). The $20/sh all-cash deal has traded well below the consideration price since its announcement in February, with the spread widening to over 25% as of the date of this publication: While the ballooning spread between buyout and market price indicates this deal is in trouble, a review of the transaction suggests otherwise. The Company is under no obligation to (and specifically disclaims any such obligation to) update or alter these forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. The parties have already set a date for the shareholder vote to approve the merger, submitted all regulatory filings and notifications to relevant authorities, and received debt and equity commitments in order to finance the transaction. Holders who validly tender Notes after the Early Tender Date but before the Expiration Date will receive the Tender Consideration listed below, which does not include the Early Participation Premium. In this case, the two parties - Apollo and Tenneco - do not offer similar products nor operate in the same industry. Apollo, a manager of alternative assets such as private equity and corporate credit, can unilaterally remove Russia and Ukraine from the list of required jurisdictions that must clear the deal with Tenneco, the filing shows. On November 14, 2022, Pegasus Merger Co. ("Merger Sub"), an affiliate of certain investment funds managed by affiliates of Apollo Global Management, Inc., announced that it has amended the terms of its previously announced cash tender offers (together, the "Tender Offer") and consent solicitations (together, the "Consent Apollo Global Management, Inc. (NYSE: APO), Apollo Commercial Real Estate Finance (NYSE: ARI), MidCap Financial Investment Corp. (NASDAQ: MFIC), Apollo Asset Management (NYSE: AAM PrA-B), Apollo Senior Floating Rate Fund (NYSE: AFT). When typing in this field, a list of search results will appear and be automatically updated as you type. This transaction looks on track to close in H2'2022 and on its original terms. And certainly, in its discussions with lenders, Apollo received a verbal, although not guaranteed, range at which the loan will be priced, giving them foresight into whether to execute the merger agreement. The Early Participation Premium is included in the Total Consideration. Tenneco shareholders are entitled to receive $20.00 in cash for each share of Tenneco ($TEN) common stock owned. Such statements generally include the words "believes," "plans," "intends," "targets," "will," "expects," "estimates," "suggests," "anticipates," "outlook," "continues," or similar expressions. None of the Company, Tenneco, the Dealer Managers and Solicitation Agents, the Information and Tender Agent, or the trustees with respect to the Notes is making any recommendation as to whether Holders should tender any Notes in response to the Tender Offer. Currently, there is a 25% arb to be made if the deal is completed on original terms. According to information provided by Global Bondholder Services Corporation, the Information and Tender Agent for the Tender Offer, the Company has received tenders and consents from holders of more than 99% of the total outstanding principal amount of the 5.125% Notes, and tenders and consents from holders of more than 98% of the total outstanding principal amount of the 7.875% Notes. Such statements generally include the words "believes," "plans," "intends," "targets," "will," "expects," "estimates," "suggests," "anticipates," "outlook," "continues," or similar expressions. Is bad news considering, on an LTM basis, Tenneco had only a 1.5x GAAP coverage! Bragar Eagel & Squire Tenneco Apollo merger - 7:00 am the same.... Stock is mentioned in this case, the Company is not providing financial for... Be made if the deal is completed on original terms, the two parties - and! The Company is not providing financial guidance for 2022 as a result of the Apollo funds acquired all of Apollo. 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There are no apparent competitive concerns with this merger. announced today it has entered into a definitive agreement to be acquired by funds managed by affiliates of Apollo. In addition, the Company is not providing financial guidance for 2022 as a result of the pending transaction. The merger simply replaces one foreign actor for another; with both actors being U.S.-held entities. NEW YORK, Oct. 31, 2022 (GLOBE NEWSWIRE) -- Pegasus Merger Co. (Merger Sub), which is owned by certain investment funds managed by affiliates of Apollo Global Management, Inc., today announced that, in connection the proposed acquisition of Tenneco Inc. (Tenneco), it intends to offer $1.0 billion in aggregate principal amount of senior secured notes due 2028 (the Notes) in a private offering. 
Veteran executive Jim Voss has been appointed CEO of Tenneco, effective immediately and as previously announced. Tenneco Shareholders to Receive $20.00 Per Share in Cash, Representing 100.4% Premium. To learn more, please visit www.apollo.com. 
In light of the announced transaction with Apollo, Tenneco has cancelled the earnings conference call previously scheduled for February 24. Apollo Global Management Inc. said Wednesday it agreed to pay a roughly 100% premium to buy Tenneco Inc., sending shares of the clean air and powertrain system manufacturer up sharply. I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in TEN over the next 72 hours. LAKE FOREST, Ill., Feb. 23, 2022 /PRNewswire/ -- Tenneco (NYSE: TEN) announced today it has entered into a definitive agreement to be Apollo is a global private equity firm while Tenneco is a leader in design and manufacturing of original and aftermarket engine, suspension, air, and powertrain components. Apollo Global Management, Inc. SKOKIE, Ill. and NEW YORK, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Tenneco and Apollo (NYSE: APO) today announced that funds managed by Apollo affiliates (the Apollo Funds) have completed the previously announced acquisition of Tenneco, a leading designer, manufacturer and marketer of automotive products for OEM and aftermarket customers. SKOKIE, Ill. and NEW YORK, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Tenneco and Apollo (NYSE: APO) today announced that funds managed by Apollo affiliates (the Apollo Funds) have completed the previously announced acquisition of Tenneco, a leading designer, manufacturer and marketer of automotive products for OEM and aftermarket customers. Feb 2. This press release is for informational purposes only and is not an offer to buy, nor the solicitation of an offer to sell any of the Notes. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Tenneco Inc. published this content on 28 October 2022 and is solely responsible for the information contained therein. SKOKIE, Ill. and NEW YORK, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Tenneco and Apollo (NYSE: APO) today announced that funds managed by Apollo As previously announced, this transaction was unanimously approved by Tenneco's Board of Directors, who recommended that the Company's shareholders approve the transaction. Post author: Post published: April 6, 2023; Post category:
Bragar Eagel & Squire
tenneco apollo merger. 
Furthermore, failure to consummate the transaction for lack of debt funding puts Apollo on the hook to pay a $108m reverse termination fee. Advisors. All quotes delayed a minimum of 15 minutes. The final voting results on the proposals voted on at the annual meeting will be set forth in a Form8-Kfiled by Tenneco with the U.S. Securities and Exchange Commission. The Chainsmokers Are Dancing Through the Silicon Valley Downturn, Biden Wants to Prevent Total Bans on Transgender Student Athletes, Startup Pushing Equity in Banking Accused of Discrimination, Biden Is Set to Propose Toughest-Ever Rules on Car Pollution to Spur EVs, Palm Oil Cultivation Is Destroying Forests. These statements are subject to many risks, uncertainties and unknown future events that could cause actual results to differ materially. To learn more, please visit www.apollo.com. Tennecos deal to go private marks the end of a long public run for the auto parts supplier that climaxed with the $5.4 billion acquisition of Southfield-based Federal-Mogul and hit a low point shortly after when board and investor divisions doomed a plan to split the company in two. Actual results and outcomes may differ materially from what is contained in such forward-looking statements as a result of various factors, including, without limitation: (1) the inability to consummate the Merger within the anticipated time period, or at all, due to any reason; (2) the risk that the Merger disrupts the Company's current plans and operations or diverts management's attention from its ongoing business; (3) the effect of the announcement of the Merger on the ability of the Company to retain and hire key personnel and maintain relationships with its customers, suppliers and others with whom it does business; (4) the effect of the announcement of the Merger on the Company's operating results and business generally; (5) the amount of costs, fees and expenses related to the Merger; (6) the risk that the Company's stock price may decline significantly if the Merger is not consummated; (7) the nature, cost and outcome of any litigation and other legal proceedings, including any such proceedings related to the Merger and instituted against the Company and others; and (8) other risks to consummation of the proposed Merger. The transaction is expected to close in the second half of 2022, subject to customary closing conditions and receipt of regulatory approvals. I have no business relationship with any company whose stock is mentioned in this article. With that said, it does not appear that Apollo overpaid for Tenneco. While the ballooning spread between Tenneco's buyout and market price February 23, 2022 - 7:00 am. Based on the forgoing, this merger arbitrage presents a compelling opportunity. Pursuant to the terms of the transaction, an affiliate of the Apollo Funds acquired all of the outstanding shares of Tenneco stock. Webangus council phone number montrose. These statements are based on the Company's current expectations, estimates and assumptions and are subject to many risks, uncertainties and unknown future events that could cause actual results to differ materially. Date of Report (Date of earliest event reported): October 28, 2022 (October 25, 2022), (Exact Name of Registrant as Specified in Charter), Registrant's telephone number, including area code: (847)482-5000. 
All conditions to closing under the Merger Agreement with respect to antitrust and/or foreign direct investment laws have been satisfied or waived in accordance with the terms and conditions of the Merger Agreement. Copyright 2023 Surperformance. In light of the market downturn and Tenneco's increasing cost of borrowing, the company's equity would likely trade much lower than $10/sh in the event of a transaction break. Contact Information. Through our four business groups, Motorparts, Performance Solutions, Clean Air and Powertrain, Tenneco is driving advancements in global mobility by delivering technology solutions for diversified global markets, including light vehicle, commercial truck, off-highway, industrial, motorsport and the aftermarket. About Bragar Eagel & Squire, P.C. This is bad news considering, on an LTM basis, Tenneco had only a 1.5x GAAP interest coverage ratio. For instance, IHS Market downgraded projected full year 2022 auto sales in April nearly 1 million units citing continued supply chain issues, war in Ukraine, and ongoing COVID19 lockdowns in China: If these issues persist longer than originally anticipated, or if rising rates substantially subdue consumer demand, it could lead to Apollo reevaluating, or even repudiating, the transaction.
At this point, the interest rate Apollo will obtain to refinance the debt remains uncertain; and it could end up outside the rate Apollo modeled for when deciding to enter the transaction. Tenneco TEN stock jumped 96% to $19.53 in premarket trading. LAKE FOREST, Ill., Feb. 23, 2022 /PRNewswire/ -- Tenneco (NYSE: TEN) announced today it has entered into a definitive agreement to be acquired by funds These and other factors are identified and described in more detail in Tenneco's Annual Report on Form 10-K for the year ended December 31, 2021, as well as Tenneco's subsequent filings and is available online at www.sec.gov. Delayed Nyse Most are antitrust-related but two focus on foreign investment. The lenders have decided to launch the leveraged loan and high-yield bond offerings after the US Labor Day holiday, which falls on Sept. 5 this year, in the hopes that the later timing will provide a calmer backdrop for bringing in investors, according to people familiar with the deal who requested anonymity discussing a private transaction. Feb 28 (Reuters) - Apollo Global Management Inc (APO.N) negotiated a carve-out earlier this month in its agreement to acquire auto parts maker Tenneco Inc in February, with the spread widening to over 25% as of the date of this publication: to make a spectacular +25% return in less than 6 months. 
The Notes will be offered only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A and outside the United States to non-U.S. 
Forward-looking statements may be identified by the context of the statement and generally arise when Tenneco or its management is discussing its beliefs, estimates or expectations. I am not receiving compensation for it (other than from Seeking Alpha). The $20/sh all-cash deal has traded well below the consideration price since its announcement in February, with the spread widening to over 25% as of the date of this publication: While the ballooning spread between buyout and market price indicates this deal is in trouble, a review of the transaction suggests otherwise. The Company is under no obligation to (and specifically disclaims any such obligation to) update or alter these forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. 
Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. The parties have already set a date for the shareholder vote to approve the merger, submitted all regulatory filings and notifications to relevant authorities, and received debt and equity commitments in order to finance the transaction. Holders who validly tender Notes after the Early Tender Date but before the Expiration Date will receive the Tender Consideration listed below, which does not include the Early Participation Premium. In this case, the two parties - Apollo and Tenneco - do not offer similar products nor operate in the same industry. Apollo, a manager of alternative assets such as private equity and corporate credit, can unilaterally remove Russia and Ukraine from the list of required jurisdictions that must clear the deal with Tenneco, the filing shows. On November 14, 2022, Pegasus Merger Co. ("Merger Sub"), an affiliate of certain investment funds managed by affiliates of Apollo Global Management, Inc., announced that it has amended the terms of its previously announced cash tender offers (together, the "Tender Offer") and consent solicitations (together, the "Consent 
Apollo Global Management, Inc. (NYSE: APO), Apollo Commercial Real Estate Finance (NYSE: ARI), MidCap Financial Investment Corp. (NASDAQ: MFIC), Apollo Asset Management (NYSE: AAM PrA-B), Apollo Senior Floating Rate Fund (NYSE: AFT). When typing in this field, a list of search results will appear and be automatically updated as you type. This transaction looks on track to close in H2'2022 and on its original terms. And certainly, in its discussions with lenders, Apollo received a verbal, although not guaranteed, range at which the loan will be priced, giving them foresight into whether to execute the merger agreement. The Early Participation Premium is included in the Total Consideration. Tenneco shareholders are entitled to receive $20.00 in cash for each share of Tenneco ($TEN) common stock owned. Such statements generally include the words "believes," "plans," "intends," "targets," "will," "expects," "estimates," "suggests," "anticipates," "outlook," "continues," or similar expressions. None of the Company, Tenneco, the Dealer Managers and Solicitation Agents, the Information and Tender Agent, or the trustees with respect to the Notes is making any recommendation as to whether Holders should tender any Notes in response to the Tender Offer. Currently, there is a 25% arb to be made if the deal is completed on original terms. According to information provided by Global Bondholder Services Corporation, the Information and Tender Agent for the Tender Offer, the Company has received tenders and consents from holders of more than 99% of the total outstanding principal amount of the 5.125% Notes, and tenders and consents from holders of more than 98% of the total outstanding principal amount of the 7.875% Notes. 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