Apollo Global Management, Inc. (APO), on Monday said Apollo-managed funds entered into separate definitive agreements to acquire Emerald Holding, Inc. (EEX) and Questex, LLC in all-cash transactions.
The transaction is expected to close in the second half of 2026.
The company said it intends to combine the businesses to create a North American B2B experiential events and media platform.
Under the terms of the agreement, Emerald shareholders will receive $5.03 per share in cash, representing a 42.1% premium to the company's unaffected share price and implying an estimated enterprise value of about $1.5 billion.
Upon completion of the transaction, Emerald will become a private company and its shares will no longer trade on the New York Stock Exchange.
The combined business is expected to operate about 160 events across complementary end markets, combining Emerald's exhibitions portfolio with Questex's digital engagement platform.
Separately, Emerald's board declared a quarterly dividend of $0.015 per share payable on June 1 to shareholders of record on May 21.
In the pre-market trading, Apollo is 0.18% lesser at $132.93 on the New York Stock Exchange.
In the pre-market trading, Emerald is 5.70% higher at $5.0100 on the New York Stock Exchange.
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