Diamond Resorts to Be Bought by Apollo Global Management
Wednesday, June 29, 2016
Just reported this morning, Diamond Resorts International has agreed to be bought by private equity firm Apollo Global Management LLC for $2.2 billion dollars.
Apollo will pay $30.25 per share—a 26% premium over Diamond’s closing share price Tuesday. This offer is 58% more than Diamond Resorts’ closing share price on February 24th. At that time, the company had said they were exploring strategic alternatives for growth.
