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.