LONDON, UK / ACCESSWIRE / July 12, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Apollo Global Management, LLC (NYSE: APO), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=APO. The Company, a leading global alternative investment manager, entered into a definitive agreement with ClubCorp (NYSE: MYCC), the global leader in Private Clubs®. As per this agreement, Apollo funds will acquire all outstanding shares of ClubCorp for $17.12 per share in cash, i.e. for a total of $1.1 billion. This all-cash transaction signifies a 30.7% premium over ClubCorp's closing stock price on July 07, 2017. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Deal to eventually enhance value for ClubCorp shareholders

ClubCorp's Board of Directors unanimously approved the agreement with the Apollo funds on the basis of the recommendation of its Strategic Review Committee. The Board, with its Strategic Review Committee, the management team, and independent financial and legal advisors, steered a robust strategic review process to analyze various strategic alternatives. They held discussions with all possible counterparties to explore a range of probable transactions. John Beckert, Chairman of the Board of ClubCorp, announced that the Board is pleased with this agreement with Apollo funds. He mentioned that the support from Apollo funds would enable ClubCorp to build on its success and continue providing its members with unmatched club experience. This deal will help the Company to achieve its goal of enhancing value for shareholders while complying with the result of their strategic alternatives review. He expressed that the Company looks forward to working with Apollo while entering the next stage of its growth.

Combination of both the companies to enhance service for club members

David Sambur, a Senior Partner at Apollo, expressed his excitement at the acquisition of ClubCorp. He confirmed his belief in ClubCorp's exceptional management team and talented employees, who have built an excellent member-centric business that delivers extraordinary experiences. Apollo aims to leverage ClubCorp's dedicated team along with Apollo's resources and expertise to spur business growth and provide the highest level of service to club members.

Transaction closing expected in the fourth quarter of 2017

As of now, the transaction is subject to customary closing conditions, including approval by ClubCorp's shareholders. The deal is likely to close in the fourth quarter of this year. Once the transaction is completed, ClubCorp will become a privately-held company and its shares will no longer be listed on the New York Stock Exchange.

ClubCorp Board Declares Dividend of $0.13 per Share

ClubCorp's Board of Directors declared a one-time quarterly dividend of $0.13 per share on July 09, 2017. The dividend is likely to be paid on July 28, 2017, to shareholders of record at the close of business on July 21, 2017.

Legal Advisors and Finance Providers

Jefferies LLC and Wells Fargo Securities/Eastdil Secured will be serving as the financial advisors to ClubCorp, while Simpson Thacher & Bartlett LLP will be acting as the legal counsel. On the other hand, Citigroup will serve as the lead financial advisor to Apollo with RBC Capital Markets, LLC, Barclays, Credit Suisse and Deutsche Bank as other financial advisors. Paul, Weiss, Rifkind, Wharton & Garrison LLP will act as Apollo's legal counsel. Citigroup, Royal Bank of Canada, Barclays, Credit Suisse and Deutsche Bank will jointly provide financing for the deal.

About Apollo

Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, Chicago, St. Louis, Bethesda, Toronto, London, Frankfurt, Madrid, Luxembourg, Mumbai, Delhi, Singapore, Hong Kong, and Shanghai. As on March 31, 2017, it had assets under management of approximately $197 billion in private equity, credit, and real estate funds invested across a core group of nine industries.

Last Close Stock Review

On Tuesday, July 11, 2017, the stock closed the trading session at $27.09, slightly up 0.67% from its previous closing price of $26.91. A total volume of 779.52 thousand shares has exchanged hands. Apollo Global Management's stock price skyrocketed 6.19% in the last three months, 27.06% in the past six months, and 75.57% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have soared 39.93%. The stock is trading at a PE ratio of 8.87 and has a dividend yield of 7.24%. At Tuesday's closing price, the stock's net capitalization stands at $5.11 billion.

On Tuesday, July 11, 2017, the stock closed the trading session at $17.10, rising slightly by 0.29% from its previous closing price of $17.05. A total volume of 5.18 million shares has exchanged hands, which was higher than the 3-month average volume of 1.06 million shares. ClubCorp's stock price surged 25.27% in the last one month, 12.50% in the past six months, and 24.73% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have rallied 19.16%. The stock is trading at a PE ratio of 247.83 and has a dividend yield of 3.04%. The stock currently has a market cap of $1.14 billion.

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