Goldman Sachs Downgrades Diamond Resorts International (DRII) to Neutral
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Apollo (APO) to Acquire Diamond Resorts (DRII) in $2.2B Deal
June 29, 2016 9:06 AM EDTDiamond Resorts International, Inc. (NYSE: DRII) announced that it has entered into an Agreement and Plan of Merger with affiliates of certain funds (the Apollo Funds) managed by affiliates of Apollo Global Management, LLC (NYSE: APO), pursuant to which the Apollo Funds will acquire Diamond Resorts for $30.25 per share or approximately $2.2 billion.
The all-cash offer represents a premium of approximately 26% over Diamond Resorts closing share price on June 28, 2016, and a premium of approximately 58% over the closing share price on February 24, 2016, the day of Diamond Resorts announcement that it was exploring... More
