Company: APO
Filing Date: 2025-04-11
Form Type: S-4
Source: 0001193125-25-079161
Chunk: 80

Company: Apollo Global Management, Inc.
Filing Date: 2025-04-11
Form: S-4
Chunk 80
---
 the consideration received by Bridge’s management team and the unaffiliated stockholders in a potential transaction. Following extensive discussion, the special committee decided to permit Bridge’s
management team to propose their 40% equity retention to Apollo for a range of reasons, including (a) the fact that the unaffiliated stockholders could nevertheless receive an attractive premium in a transaction with Apollo, (b) the
potential to request additional value for the unaffiliated stockholders if Apollo were willing to consider the proposed equity retention, (c) that the proposed transaction with Bidder B involved a buyout solely of the unaffiliated stockholders
and (d) the need for Bridge’s management team, in their capacity as significant stockholders of Bridge, to ultimately support any potential transaction that might be pursued with Apollo. Following discussion, the special committee
determined to permit Bridge’s management team to convey their request while also noting that significant benefits would also need to accrue to the unaffiliated stockholders.

The special committee also discussed and approved Mr. Leat hosting a dinner to help facilitate representatives of Apollo meeting in
person with members of Bridge’s management team at which they could become better acquainted in the interest of accelerating the ongoing discussions of a potential transaction.

On July 11, 2024, Mr. Leat hosted a dinner for members of Bridge’s management team, including, among others, Mr. Morse and
Mr. Slager, and Mr. Sambur from Apollo.

On July 16, 2024, the special committee held a meeting with representatives of
Cravath and Lazard. Mr. Leat provided the special committee with a detailed summary of the July 11, 2024 dinner, noting the broadly positive conversation among the parties on the strategic opportunities and challenges of a potential
transaction. Representatives of Lazard also shared with the special committee updates on the status of discussions with all potential counterparties, including a process call with Apollo, additional diligence calls with Bidder B (which had recently
engaged external legal counsel), and a meeting with Bidder E at which Bidder E appeared less committed to the process. Representatives of Lazard noted that while neither Bidder C nor Bidder D had formally declined to submit a proposal for a
potential transaction, neither had made any progress in pursuing a transaction with Bridge further. Representatives of Cravath provided a summary of the key terms of the draft merger agreement that had been prepared by Latham and Cravath for
circulation to the parties