Bridge Investment Group Holdings Inc. ( BRDG ) shares are trading higher on Monday after the company entered a deal to be acquired by Apollo Global Management, Inc. ( APO ) in an all-stock transaction valued at around $1.5 billion.

As per the terms, Bridge stockholders and Bridge OpCo unitholders will receive 0.07081 shares of Apollo stock for each Bridge Class A common stock share and each Bridge OpCo Class A common unit, with an agreed valuation of $11.50 per share or unit.

A special committee of independent Bridge directors unanimously recommended the merger, which the Board approved as beneficial to unaffiliated stockholders.

The transaction is anticipated to close in the third quarter of 2025 and be immediately accretive to Apollo’s fee-related earnings upon closing.

With 51.4% voting power committed in favor, upon completion of the transaction, Bridge will delist from the NYSE and become a private company and continue to operate as an independent platform within Apollo’s asset management division.

The acquisition of Bridge is expected to significantly expand Apollo’s real estate equity platform and strengthen its origination capabilities across both real estate equity and credit.

This move is expected to enhance Apollo’s hybrid and real estate product offerings.

Read: Apollo Weighs $9.5 Billion Stake In Seven & i Buyout, Joining Ito Family’s $60 Billion Deal: Report

Bridge Executive Chairman Bob Morse said, “This transaction will allow the Bridge and Apollo teams to grow on the strong foundation that Bridge has built since 2009 as we work to pursue meaningful value and impact for our investors and communities.”

“With Apollo’s global integrated platform, resources, innovation and established expertise, we are confident that Bridge will be positioned for the next phase of growth amid growing demand across the alternative investments space.”

Bridge Investment ( BRDG ) reported fourth-quarter Distributable Earnings of 18 cents per share after tax vs. consensus of 16 cents.

Bridge has canceled its fourth-quarter and full-year 2024 earnings results and conference call originally scheduled for February 25, 2025, due to the pending transaction.

Price Action: BRDG shares are up 36% at $10.77 at the last check Monday.

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