OM Group sale to Apollo, Platform closes; Apollo names new CEO

摘要

Private equity firm Apollo Management (New York) has closed its acquisition of OM Group's magnetic technologies, advanced organics, and batteries businesses. As part of the deal, Apollo will sell OM Group's electronic chemicals and photomasks businesses to Platform Specialty Products for $365 million. The deal values OM Group at $1.03 billion, or $34/share, a 28% premium on the company's share price just prior to the announcement of the deal.