WHEN: TODAY, TUESDAY, MARCH 29TH
WHERE: CNBC'S "CLOSING BELL WITH MARIA BARTIROMO"
Following is the unofficial transcript of breaking news from CNBC's Kate Kelly. All references must be sourced to CNBC.
KATE KELLY: MARIA, THE PRICING MEETING RIGHT NOW I THINK IS STILL ONGOING BUT WHAT I HEAR IS THAT ITS PRICED AT $19 WHICH IS THE TOP OF THE $17-$19 RANGE THIS PUTS APOLLO GLOBAL MANAGEMENT AT A VALUATION OF JUST NORTH OF $7 BILLION DOLLARS $7.1 BILLION DOLLARS FOR THE COMPANY. ONE THING THAT IS STILL BEING DECIDED IS MY UNDERSTANDING IS THAT THEY MIGHT UPSIZE THE DEAL JUST SLIGHTLY IT WAS ABOUT 26 MILLION SHARES THAT THEY WERE GOING TO BRING PUBLIC AS PART OF THIS OFFERING THEY MAY ADD 3 OR 4 MILLION SHARES TO THAT THAT IS BEING DECIDED AS WE SPEAK ON A CALL WITH THE UNDERWRITERS LEON BLACK AND OTHER MEMBERS OF APOLLO MANAGEMENT BUT AGAIN A SUCCESSFUL DEAL FOR THESE GUYS MARIA I MEAN THEY WERE TALKING ABOUT GOING PUBLIC AT $18-$20 ULTIMATELY THEY FILED AT $17-$19 THE DEAL WAS PUT OFF FOR A NUMBER OF YEARS AND THEN FOR A NUMBER OF DAYS OR A WEEK MOST RECENTLY BECAUSE OF THE TURMOIL IN JAPAN BUT THEY SEEMED TO HAVE FINISHED PRETTY STRONGLY AT THAT TOP OF THAT RANGE MARIA.
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