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APO

Apollo Global

$17.96

0.18 (1.01%)

08:04
10/03/16
10/03
08:04
10/03/16
08:04

Apollo Global funds reports merger of Double Eagle, Veritas Energy

Funds managed by affiliates of Apollo Global Management and Post Oak Energy Capital, LP announced that Double Eagle Lone Star LLC, and Veritas Energy Partners Holdings LLC have entered into a definitive merger agreement, creating one of the largest pure play exploration and production companies focused on the Permian's Midland Basin. Double Eagle was previously a subsidiary of Double Eagle Energy Holdings II LLC, a portfolio company of Apollo Natural Resources Partners Funds I and II, and Veritas Energy was previously a portfolio company of investment partnerships managed by Post Oak. The newly combined company, which is called Double Eagle Energy Permian LLC, has more than 63,000 core Midland Basin net acres located predominantly in Midland, Martin, Howard and Glasscock counties, and a team with extensive experience drilling and operating wells in the region. Double Eagle Energy Permian will be headquartered in Fort Worth, Texas, and Cody Campbell and John Sellers, the current Co-CEOs of Double Eagle II, will serve as the Co-CEOs of the new company with Hollis Sullivan, the current President of Veritas Energy, serving as Chairman. Vinson & Elkins LLP acted as legal advisor and Jefferies LLC acted as financial advisor to Double Eagle, and Latham & Watkins LLP acted as legal advisor and Tudor, Pickering, Holt & Co. acted as financial advisor to Veritas Energy.

  • 28

    Oct

APO Apollo Global
$17.96

0.18 (1.01%)

08/04/16
KBWI
08/04/16
UPGRADE
Target $22
KBWI
Outperform
Apollo Global upgraded to Outperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst Robert Lee upgraded Apollo Global to Outperform citing strong investment performance and capital formation following the company's Q2 results. The analyst raised his price target for the shares to $22 from $18. Oppenheimer this morning also upgraded Apollo Global.
08/04/16
08/04/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Texas Instruments (TXN) upgraded to Neutral from Underperform at Exane BNP Paribas. 2. Spirit Airlines (SAVE) upgraded to Strong Buy from Outperform at Raymond James with analyst Savanthi Syth saying the recent weakness in the shares brings a "very attractive entry point." 3. Archer Daniels (ADM) upgraded to Buy from Hold at Argus with analyst David Coleman citing valuation and management's optimistic outlook for the second half of 2016. 4. Celgene (CELG) upgraded to Buy from Neutral at BTIG. Analyst Dane Leone believes the company's 2020 financial targets are achievable and represent upside to current consensus estimates. 5. Apollo Global (APO) upgraded to Outperform from Perform at Oppenheimer and to Outperform from Market Perform at Keefe Bruyette. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/08/16
OPCO
08/08/16
NO CHANGE
Target $32
OPCO
Outperform
Oppenheimer sees Rackspace deal in the low-to-mid $30s
Oppenheimer analyst Timothy Horan raised his price target for Rackspace (RAX) to $32 from $30 after The Wall Street Journal reported that the company was in advanced talks to sell itself to Apollo Global (APO) for $3.5B, or $27 per share. The analyst believes this is low and that a deal in the $32 area is more likely. Oppenheimer has an Outperform rating on Rackspace's shares.
08/31/16
08/31/16
NO CHANGE

Apollo Global affiliates extend tender offer for Outerwall
Affiliates of certain funds managed by affiliates of Apollo Global (APO) and Outerwall (OUTR) agreed to extend the offering period of Apollo's previously announced cash tender offer to purchase all of the outstanding shares of common stock of Outerwall to 12:00 Midnight, NYC time, on September 22, unless further extended. As of 5:00 P.M., NYC time, on August 31, 4,834,209 shares of common stock of Outerwall were tendered pursuant to the tender offer, which represented approximately 28.1% of the outstanding shares of common stock of Outerwall.

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$NYE

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MRVL

Marvell

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