TEN - Tenneco gains on report Apollo will file with European Commission imminently

• Tenneco ( NYSE: TEN ) rose 1% after a report that Apollo Global ( NYSE: APO ) plans to file its planned purchase of the autoparts supplier with the European Commission imminently.
• The parties met with the EC staff on Wednesday and Thursday and the deal is moving forward, according to a Dealreporter item, which cited sources familiar.
• The update comes after Tenneco shares jumped 4.2% on Thursday after Tenneco ( TEN ) disclosed that it tends to fully redeem two outstanding notes. The redemption is conditioned on completion of Tenneco's sale to Apollo Global ( APO ) and completion of an offering of debt securities on or prior to redemption date.
• While the Tenneco ( TEN ) deal has been approved in some jurisdictions, including China, investors are still awaiting for the deal to be filed before European antitrust regulators.
• Developing story ...

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