Company: APO
Filing Date: 2025-04-11
Form Type: S-4
Source: 0001193125-25-079161
Chunk: 84

Company: Apollo Global Management, Inc.
Filing Date: 2025-04-11
Form: S-4
Chunk 84
---
 Mr. Leat had raised the outreach with Cravath promptly after he had received
it in order to discuss how to best manage those points of contact in the event that Apollo decided in the future to make another proposal for a strategic transaction with Bridge. Mr. Leat noted his discussions with Apollo were very preliminary
and committed that he would not pursue any such opportunities further until the special committee had made a determination regarding his role on the special committee. Following discussion, the special committee agreed to revisit the topic at the
appropriate time should a potential transaction with Apollo be revived.

On November 7, 2024, on behalf of the special committee,
Cravath shared with Bridge’s management team an updated version of the process guidelines describing the role of the special committee and Bridge’s management team in light of the inbound interest from Bidder H.

Commencing in late November, Mr. Morse and Mr. Sambur had various telephone conversations and meetings to discuss whether Apollo
would submit an updated bid and other process related questions, including Apollo’s remaining requirements for due diligence on Bridge.

On November 25, 2024, Mr. Morse conveyed to Mr. Sambur that, at the direction of the special committee, any proposals with
respect to a potential transaction with Bridge should be directed to the special committee and its independent advisors in the first instance.

On November 27, 2024, the special committee received an updated letter of intent and non-binding
term sheet from Apollo regarding a potential transaction with Bridge, which transaction would be structured as a stock-for-stock transaction involving the acquisition of
100% of the issued and outstanding equity interests of Bridge, an increased implied price per share of Bridge Class A common stock of $10.00 per share (which represented an approximately 8.1% increase from the offer in the August Proposal) and
an exchange ratio to be fixed at signing (the “November Proposal”). The closing price per share of Bridge Class A common stock on November 27, 2024 was $9.89. The November Proposal assumed that the parties to Bridge’s TRA
would waive

48

any right to accelerated payments due under the TRA that would be triggered by virtue of the potential transaction.

On November 30, 2024, the special committee held a meeting with representatives of Cravath and Lazard. At the meeting, the special
committee discussed Mr. Leat’s role on the special committee in light of the receipt of the November Proposal, and Mr. Le