GO
Loading...

Enter multiple symbols separated by commas

Apollo Says Major Shareholder Accepts its Bid for Countrywide

Apollo Management said Polygon Global Opportunities Master Fund has agreed to accept its revised recommended offer for estate agency chain Countrywide and would not support the competing proposal from a third party.

Polygon owns shares and contracts for differences in respect of 29.9% of Countrywide.

Apollo announced an improved offer of 530 pence in cash and 0.16487 Rightmove shares per Countrywide share on April 12 after the target received an approach from a third party. The revised offer values Countrywide at 1.054 billion pounds ($2.112 billion).

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • Hero miles for military members: Real estate magnate's plea

    Chairman of the Fisher House Foundation, Ken Fisher, discusses the Hero Miles program with CNBC's Dina Gusovsky. During Military Appreciation Month, Fisher is asking every traveler to donate 1,000 of their miles to replenish the Hero Miles programs that is in danger of running out.

  • Cramer shuts down this market's haters

    "Mad Money" host Jim Cramer on why this market can't stop, won't stop.

  • From the battlefield to the boardroom

    Your Grateful Nation is dedicated to helping Special Forces veterans enter the corporate world and Knot Standard provides complimentary suits to vets. Mad Money's Jim Cramer spoke with Rob Clapper, Your Grateful executive director; John Ballay, Knot Standard co-founder and president; Tej Gill, retired U.S. Navy Seal; and Darren McB, active duty U.S. Navy Seal.