Tiger Merger Sub Co. (the “Offeror”), an affiliate of certain investment funds managed by affiliates of Apollo Global Management, Inc. (together with its consolidated subsidiaries, “Apollo”), announced today that it has further extended the Expiration Date (as defined in the Offer to Purchase (as defined below)) for the previously announced Tender Offers and Consent Solicitations (each as defined below) relating to Tech Data Corporation’s (i) 3.700% Senior Notes due 2022 (the “2022 Notes”) and (ii) 4.950% Senior Notes due 2027 (the “2027 Notes” and, together with the 2022 Notes, the “Notes”). The Expiration Date was previously extended to May 19, 2020. As a result of this further extension, the Expiration Date will now be 5:00 p.m., New York City time, on June 2, 2020 (unless further extended or earlier terminated).

Cengage and McGraw-Hill, the No. 2 and 3 largest U.S. college textbook companies, terminated their merger agreement on Monday under pressure from U.S. and British antitrust enforcers. Cengage said the deal, announced in May 2019, was scrapped "by mutual agreement due to a prolonged regulatory review process and the inability to agree to a divestitures package with the U.S. Department of Justice." McGraw-Hill simply said closing conditions could not be satisfied.

This is a good time to look at your holdings and weed out companies that have high debt, or are losing money, or both Continue reading...

NEW YORK, May 22, 2020 -- Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”), announced today that Marc Rowan, Co-Founder and.

(Bloomberg) -- Hg will soon stop accepting new money for three of its buyout funds after raising $11 billion for its largest ever pool of capital, according to people familiar with the matter.The U.K.-based private equity firm, which focuses on software and service businesses, will divide as much as $10 billion equally between its second large-cap fund, known as Saturn, and its ninth mid-cap fund, known as Genesis, said the people, who asked not to be identified discussing private information. An additional $1.5 billion has been raised for the firm’s third small-cap fund called Mercury, the people said.Hg’s first investment from Saturn will go to increasing its stake in Norwegian cloud software developer Visma Group, the people said. Last April, private equity firm Cinven Group sold its stake in Visma to Hg and co-investors, valuing the business at more than 6.5 billion euros ($7 billion) at the time. Hg has been invested in Visma since 2006 when it led the company’s delisting from the Oslo Stock Exchange.The firm is working with advisers from Rede Partners on the fundraisings, the people said.Read more: European Buyout Firm Hg Is Said to Seek $4 Billion for Next FundRepresentatives for Hg declined to comment.Market tumult resulting from Covid-19 has put some serious obstacles in the way of private equity firms. Apollo Global Management Inc. suggested it may have to pay back profits, known as clawbacks, from several of its funds as holdings have been hit hard by the economic fallout. But Apollo and its rivals are sitting on roughly $1.5 trillion of capital to invest and they’re optimistic they will ultimately profit from the current crisis.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

Moody's Investors Service ("Moody's") affirmed Cox Enterprises, Inc.'s ("CEI") and Cox Communications, Inc.'s ("CCI") Baa2 senior unsecured long-term debt ratings and CEI's short-term P-2 commercial paper rating. The affirmation follows the company's proposed capital structure change in which in CCI, a wholly-owned subsidiary of CEI, and CEI executed new cross guarantees between the two companies in a move to try to simplify and balance the credit structure.

RiverPark Advisors an independently-owned investment firm, recently published its first-quarter RiverPark Long/Short Opportunity Fund commentary. During the first quarter of 2020, the RiverPark Long/Short Opportunity Fund returned 9.48% (institutional shares), compared to the total return of -19.60% by the S&P 500 Index. You should check out RiverPark’s top 5 stock picks which helped them beat […]

Please refer to the Moody's Investors Service Policy for Withdrawal of Credit Ratings, available on its website, www.moodys.com. For any affected securities or rated entities receiving direct credit support from the primary entity(ies) of this credit rating action, and whose ratings may change as a result of this credit rating action, the associated regulatory disclosures will be those of the guarantor entity.

The private-equity firm Dyal Capital Partners expects to receive its first commitments from investors over the summer. It plans to buy minority stakes in teams, allowing owners to raise cash.

Private equity firm KKR & Co Inc reported an 11% jump in after-tax distributable earnings in the first quarter on Wednesday, driven by growth in asset sales and management fees ahead of the coronavirus-linked market turmoil. After-tax distributable earnings rose to $355.3 million in the quarter through March, from $314.1 million a year earlier, KKR said. Private equity firms such as KKR were forced to mark down the value of many of their funds following a sharp decline in global markets in February and March amid the economic fallout of the pandemic, which shut down large swaths of the economy.

Q1 2020 Apollo Global Management Inc Earnings Call

Intrado Patient Messenger sends as many as 1,000 on-demand messages per second via phone, email, or text, reaching recipients in any language. It is frequently used by major healthcare organizations around the nation to inform patients during emergencies and other widespread issues in their communities. Nate Brogan, President, Intrado Notification Services, said, “We realized we had the ideal solution to help hospitals communicate in clear and simple terms new policies, state mandates, and evidence-based guidelines related to COVID-19, and immediately reached out to offer our platform where it was most needed.”

Intrado estimates nearly half of all PSAPs in the United States have not yet implemented texting as a means to initiate a 9-1-1 response. Intrado, a trusted provider of 9-1-1 systems, services, and infrastructure across North America for over 40 years, was the first to offer a text-to-911 solution for both PSAPs and wireless carriers and is currently the largest provider of text-to-911 services for public safety nationwide. With the Interim TXT29-1-1 Relay solution, text-based emergency requests are processed by Intrado’s ECRC, which is staffed by a team of highly trained 9-1-1 telecommunicators who handle thousands of 9-1-1 calls each month.

Losses have been common in the asset management industry during this reporting cycle due to the impact of Covid-19 on markets.

Apollo Global Management, Inc. (APO) (together with its consolidated subsidiaries, “Apollo”) today reported results for the first quarter ended March 31, 2020. “With respect to our financial results, Apollo declared a cash dividend of $0.42 per share for the first quarter, which highlights the durability and resiliency of our business model, even in adverse market environments.” Apollo issued a full detailed presentation of its first quarter ended March 31, 2020 results, which can be viewed through the Stockholders section of Apollo’s website at http://www.apollo.com/stockholders.

It was another big week for the Nasdaq Composite. The IPO “window” isn’t entirely closed, but the pickings have been slim. There were 21 new offerings in January and February combined, but just a dozen deals since, seven of them health-care companies.

Tiger Merger Sub Co. (the “Offeror”), an affiliate of certain investment funds managed by affiliates of Apollo Global Management, Inc. (together with its consolidated subsidiaries, “Apollo”), announced today that it has further extended the Expiration Date (as defined in the Offer to Purchase (as defined below)) for the previously announced Tender Offers and Consent Solicitations (each as defined below) relating to Tech Data Corporation’s (i) 3.700% Senior Notes due 2022 (the “2022 Notes”) and (ii) 4.950% Senior Notes due 2027 (the “2027 Notes” and, together with the 2022 Notes, the “Notes”). The Expiration Date was previously extended to May 5, 2020. As a result of this further extension, the Expiration Date will now be 5:00 p.m., New York City time, on May 19, 2020 (unless further extended or earlier terminated).

Moody's Investors Service, ("Moody's") downgraded the ratings of Diamond Resorts International, Inc. ("Diamond Resorts") including its Corporate Family Rating to Caa1 from B3, its Probability of Default rating to Caa1-PD from B3-PD, its senior secured rating to B3 from B2, and its senior unsecured rating to Caa3 from Caa2. "The downgrade reflects Moody's expectation that Diamond Resorts' earnings will be pressured in 2020 and 2021 due to travel restrictions and macroeconomic weakness related to the spread of the coronavirus (COVID-19) which will lead to debt/EBITDA remaining above 7.0x for the next two years," stated Pete Trombetta, Moody's lodging and cruise analyst.

Apollo Global Management, Inc. (APO) (together with its consolidated subsidiaries, “Apollo” or the “Firm”) today announced that certain funds managed by its affiliates have led the purchase of $1.75 billion of convertible preferred stock (“preferred stock”) in Albertsons Companies, one of the largest food and drug retailers in the United States. The investment will represent approximately 17.5% pro forma equity ownership of Albertsons on an as-converted basis. As the lead investor, Apollo-managed funds are purchasing the preferred stock based on the Firm’s view of Albertsons’ resilient business model, strategy to invest in compelling growth opportunities and proven management team.

NEW YORK, May 21, 2020 -- Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo” or the “Firm”) today announced that it has closed on.