08:43 AM EST, 01/21/2025 (MT Newswires) -- Apollo Global Management's ( APO ) acquisition of Barnes Group ( B ) has been approved by the European Commission, the regulator said Tuesday.

"The Commission concluded that the notified transaction would not raise competition concerns, given the companies' limited combined market position resulting from the proposed transaction," the EC said in a statement on its website.

Barnes' shareholders will receive $47.50 per share in cash, Barnes said earlier this month.