Apollo and Athene to Merge in $11 Billion Transaction

Paul, Weiss is advising Apollo on the following transaction: Apollo (NYSE: APO) and Athene (NYSE: ATH) have entered into a definitive agreement to merge in an all-stock transaction that implies a total equity value of approximately $11 billion for Athene. Under the terms of the transaction, each outstanding Class A common share of Athene will be exchanged for a fixed ratio of 1.149 shares of Apollo common stock. Upon closing of the merger, current Apollo shareholders will own approximately 76% of the combined company on a fully diluted basis, and Athene shareholders will own approximately 24%.

The Paul, Weiss team includes, among others, M&A partners John Scott, Ross Fieldston and Brian Finnegan, and counsel Jason Tyler and Siu Yan Lin; financing partners Gregory Ezring and Brad Finkelstein; investment funds partners Matthew Goldstein and Victoria Forrester, and counsel Philip Heimowitz; intellectual property partner Claudine Meredith-Goujon; litigation partners Lewis Clayton and Andrew Ehrlich; tax partners Brad Okun and Brian Grieve; executive compensation partners Jean McLoughlin and Jarrett Hoffman, and counsel Bruce Goldberger; and real estate partner Peter Fisch.