In a move that’s got the market buzzing, Bridge Investment Group Holdings Inc. (NYSE: BRDG), a leading real estate investment firm, has seen its stock price surge by an impressive 36% today after news broke out about its acquisition by Apollo Global Management Inc.
The deal, which is valued at approximately $1.5 billion, will see Apollo acquire all outstanding shares of Bridge Investment Group in exchange for 0.07081 of its own stock per share. This values the company at around $11.50 per share, a significant premium to its current market price.
This acquisition marks another major move by asset managers into the real estate sector, following Blackstone Inc.’s recent comments on the bottoming out of commercial property valuations due to the pandemic-fueled slump. The deal is expected to be completed in the third quarter and will see Robert Morse, Bridge’s executive chairman, become an Apollo partner and head of its real estate equity franchise.
Bridge Investment Group Holdings has been a solid performer over the past year, with shares up 23% since January 2024. However, today’s news has seen investors piling into the stock, driving it to new highs. The company operates as a real estate investment firm that combines its nationwide operating platform with investment professionals focused on select US real estate verticals.
The acquisition is expected to be completed in the third quarter and will see Robert Morse become an Apollo partner and head of its real estate equity franchise. This deal highlights the growing trend of asset managers expanding their reach into various sectors, including real estate.
Bridge Investment Group Holdings has a market capitalization of around $2.79 billion and operates as a leading player in the US real estate investment space. The company’s shares have seen significant trading activity today, with over 1 million shares changing hands at prices ranging from $6 to $11 per share.
What does this mean for investors?
The acquisition by Apollo Global Management Inc. is likely to be viewed positively by investors who see the potential benefits of a larger and more diversified company. However, it’s essential to remember that investing in any stock involves risks, including market volatility and regulatory changes.
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