US: Outerwall agrees to $1.6bn offer

By CPI | July 25, 2016

On July 25, Outerwall Inc. announced a deal to be acquired for $1.6 billion by funds managed by Apollo Global Management.

The deal’s terms state that Apollo will pay $52 a share in cash for each Outerwall share outstanding, representing an 11% premium to Friday’s closing price of $46.91. Outerwall expects the deal to close during this year’s third quarter.