Apollo Global Management Acquires Barnes Group for $3.6 Billion

Barnes Group, Inc. has announced its acquisition by Apollo Global Management, Inc. in an all-cash deal valued at approximately $3.6 billion, offering shareholders $47.50 per share, a 22% premium over the stock's closing price on June 25, 2024. The transaction, unanimously approved by Barnes' Board of Directors, is set to close by the end of Q1 2025, contingent on shareholder and regulatory approvals. Following the deal, Barnes will be delisted from the New York Stock Exchange and operate as a private entity under its existing brand. Company executives expressed confidence in Apollo's ability to foster growth and innovation within Barnes, particularly in response to long-term aerospace demand. As a result of the acquisition process, Barnes is suspending its financial guidance for 2024 and will not participate in earnings calls for the upcoming quarter. The acquisition reflects Apollo's strategy of investing in companies with solid performance and market potential.