Barnes Group Inc. Shareholders Approve Merger with Apollo Funds

Barnes Group Inc. (NYSE: B), a global provider of highly engineered products, disclosed in a recent 8-K filing with the Securities and Exchange Commission that its shareholders have approved the acquisition by funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) at a Special Meeting of Shareholders held on January 9, 2025.

As per the terms of the merger agreement, Barnes stockholders will receive $47.50 per share in cash for every share of Barnes common stock they own immediately prior to the merger’s effective time. Approximately 99% of the total shares voted at the Special Meeting were in favor of the transaction, representing roughly 80% of the total outstanding shares of Barnes common stock as of December 6, 2024.

Thomas Hook, CEO of Barnes Group, expressed satisfaction with shareholder support for the transaction, emphasizing the potential for collaboration with Apollo Funds to advance the company’s transformation strategy, enhance capabilities, foster innovation investments, and cater to the evolving needs of customers across aerospace and industrial sectors.

The transaction is anticipated to conclude by the end of the first quarter of 2025, subject to customary closing conditions and regulatory approvals. Barnes Group will file the certified final voting results on a Form 8-K with the SEC.

Financial advisory services for the transaction were provided by Goldman Sachs & Co. LLC and Jefferies LLC, while legal counsel was offered by Wachtell, Lipton, Rosen & Katz for Barnes and Latham & Watkins LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP for Apollo Funds.

Investors and stakeholders were reminded that the release contains forward-looking statements subject to various risks and uncertainties, including regulatory approvals, potential disruptions to ongoing operations, and impacts of geopolitical tensions or health crises.

For more information on Barnes Group Inc., visit www.onebarnes.com. Additional details about Apollo Global Management, Inc. can be found at www.apollo.com.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Barnes Group’s 8K filing here.

Barnes Group Company Profile

Barnes Group Inc provides engineered products, industrial technologies, and solutions in the United States and internationally. The company operates through two segments: Industrial and Aerospace. The Industrial segment offers precision components, products, and systems used by various customers in end-markets, such as mobility, industrial equipment, automation, personal care, packaging, electronics, and medical devices.