Divestitures are an issue in competing bids for Tegna [Seeking Alpha]
Apollo Global Management, Inc. (New) (APO)
Last apollo global management, inc. (new) earnings: 5/1 07:00 am
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Source: Seeking Alpha
M&A | Divestitures are an issue in competing bids for Tegna Mar. 14, 2020 4:06 PM ET TEGNA Inc. (TGNA) Jason Aycock group of competing bidders won't be able to keep Three groups are competing over a bid they each value at $20/share: Apollo Global Management (NYSE: APO GTN Those bids value Tegna at $8.5B including debt. But all three bidders own TV stations that would have be divested because of potential overlaps, adding a wrinkle to the hunt. Gray in particular operates in 93 markets, and overlaps with Tegna in 18 markets that would call for mandatory divestitures (perhaps reaching $3B) due to an FCC reach cap. An Apollo combo wouldn't breach the FCC's cap but would still mean divestitures in six major markets. Byron Allen, with a smaller group, would need to divest just one station. Click to subscribe to real-time analytics on TGNA Now read: Thermo Fisher to buy Qiagen for €10.4B »
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APO
Earnings
- 11/6/24 - Beat
APO
Sec Filings
- 11/18/24 - Form 4
- 11/15/24 - Form 4
- 11/15/24 - Form 4
- APO's page on the SEC website