Bridge Investment Group rises after Apollo to buy co for about $1.5 billion

Bridge Investment group

24/02/2025 13:34

** Shares of real estate firm Bridge Investment Group
 BRDG.N  rise 35.2% to $10.70 premarket
    ** Alternative asset manager Apollo Global Management
 APO.N  says it will buy the company for about $1.5 billion in
an all-stock deal
    ** Deal is expected to close in Q3 of 2025
    ** Bridge to operate as a standalone platform within
Apollo's asset management business, retaining its existing brand
and management team
    ** Shares of Apollo were up more than 1% in premarket trade
    ** Shares of Bridge Investment, which holds a market cap of
$960 million, fell 14.1% in 2024
    ** BRDG down 5.7% YTD

 (Reporting by Abhinav Parmar in Bengaluru)
 ((Abhinav.Parmar@thomsonreuters.com;))