Atlas Air Worldwide (NASDAQ:AAWW) confirmed reports of a buyout, saying it entered into an agreement to be acquired by an investor group led by funds managed by affiliates of Apollo Global Management (APO) and investment affiliates of J.F. Lehman & Company, LLC and Hill City Capital LP.
The transaction consideration of $102.50 per share in cash is noted to represent a 57% premium to the 30-day volume-weighted average trading price per share of Atlas Air Worldwide common stock as of July 29 and values Atlas Air Worldwide at an enterprise value of approximately 5.2B.
The deal is expected to close in Q4 of 2022 or Q1 of 2023.