Company: APO
Filing Date: 2025-04-11
Form Type: S-4
Source: 0001193125-25-079161
Chunk: 87

Company: Apollo Global Management, Inc.
Filing Date: 2025-04-11
Form: S-4
Chunk 87
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 certain of being able to proceed with a potential proposal at the price proposed, (b) the stock consideration proposed by Apollo as compared to the cash consideration proposed by Bidder
H, (c) the difference in the price proposed by Apollo and Bidder H and (d) the exclusivity requested by each of Apollo and Bidder H. Following discussion, the special committee, without Mr. Leat present, authorized Lazard to share the
December Proposal with J.P. Morgan and Bridge’s management team for their information and determined that although the December Proposal contained a higher purchase price compared to Bidder H’s proposal, there was not a significant enough
difference in value between the proposals to enter exclusivity with Apollo at such time.

On December 10, 2024, Lazard, at the
direction of the special committee, conveyed to Apollo that, since the December Proposal, Bridge had received a proposal from a potential strategic acquiror, and that the special committee would not agree to exclusivity with Apollo at such time
without a further increase in Apollo’s proposed purchase price.

On December 11, 2024,the special committee received a
“best and final” proposal from Apollo (the “Revised December Proposal”) proposing a stock-for-stock transaction involving the acquisition of 100% of
the issued and outstanding equity interests of Bridge with (a) an increased implied price per share of Bridge Class A common stock of $11.50 per share (which represented an approximately 25% increase from the offer in the August Proposal,
a 15% increase from the offer in the November Proposal and a 5% increase from the offer in the December Proposal), (b) a request for a 45-day exclusivity period and (c) the proposal expiring at 11:59 p.m.
Eastern Time on December 12, 2024 unless Bridge agreed to the exclusivity period. The closing price per share of Bridge Class A common stock on December 11, 2024 was $9.53. At the direction of the special committee, Lazard shared the
Revised December Proposal with J.P. Morgan and Bridge’s management team for their information.

On December 12, 2024, the
special committee held a meeting with representatives of Cravath and Lazard to discuss the Revised December Proposal. Consistent with the special committee’s determination at the November 30, 2024 meeting, Mr. Leat did not attend the
December 12 meeting, and Mr. Le