- Atlas Air Worldwide ( NASDAQ: AAWW ) is likely to be acquired by an investor group led by Apollo Global Management ( NYSE: APO ) for ~$102.5/share, Bloomberg reported citing people familiar with the matter.
- The purchase price is around $3.2B on a fully diluted basis.
- Transaction is likely to be announced this week assuming talks are not halted in the last minute.
- There were no comments from both the companies.
- Apollo has a track record of backing aviation-related companies while its portfolio consists of Sun Country Airlines which went public in 2021.
- In the past 5-day trading session, the stock gained 20.9% after the news surfaced that Apollo-led group is underway talks to buy the aviation company .
- Shares trading 9.3% higher premarket.
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Atlas Air Worldwide likely to be acquired for $102.5/share by Apollo-led group