Company: APO
Filing Date: 2025-04-11
Form Type: S-4
Source: 0001193125-25-079161
Chunk: 95

Company: Apollo Global Management, Inc.
Filing Date: 2025-04-11
Form: S-4
Chunk 95
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 as the potential sale of Bridge to Apollo. Representatives of Cravath
provided an update on the status of negotiations with Apollo and an overview of the material terms of the latest draft merger agreement and other ancillary transaction documents. The special committee discussed with representatives of Cravath
certain key outstanding issues that remained under negotiation with Apollo, including (a) the revenue run-rate percentage closing condition, (b) the termination fee, (c) the regulatory efforts
provisions, (d) payment of dividends between signing and closing and (e) the majority of the minority approval condition. Representatives of Cravath noted that Apollo was likely to request an extension of the exclusivity agreement given
the upcoming expiration of the exclusivity period on February 14, 2025. The special committee discussed and was supportive of further short extensions as necessary.

Also on February 14, 2025, a Bridge Board meeting was held, and representatives of Latham, J.P. Morgan and members of management were in
attendance at the meeting. Representatives of Latham advised the members of the Bridge Board of their respective fiduciary duties in connection with a proposed sale of Bridge. The Bridge Board also acknowledged receipt of and reviewed certain
conflicts disclosure provided by J.P. Morgan in connection with their engagement. Representatives of Latham provided an update on the status of negotiations with Apollo and an overview of the material terms of the merger agreement and other
ancillary agreements.

54

Representatives of J.P. Morgan then reviewed with the Bridge Board J.P. Morgan’s financial analysis of the proposed transaction.

Also on February 14, 2025, representatives of Paul, Weiss contacted Cravath and requested an extension of exclusivity through
February 17, 2025, which was granted by Bridge as had been previously discussed and approved by the special committee.

On
February 15, 2025, representatives of Paul, Weiss shared with representatives of Latham and Cravath a proposed diligence plan with respect to their review of Bridge’s asset-level loans. During the period from February 18, 2025 through
February 23, 2025, representatives of Latham, Cravath, Paul, Weiss, Bridge and Apollo attended daily diligence calls regarding Bridge’s asset-level loans and related diligence matters.

On February 17, 2025, Mr. Morse and Mr. Slager had a telephone conversation with Mr. Sambur to discuss open commercial
issues on the merger agreement and the proposed offer letters with certain