Barnes Group shareholders approve transaction with Apollo funds

Barnes Group (B) announced that its shareholders voted to approve the company’s previously announced acquisition by funds managed by affiliates of Apollo Global Management (APO) at the company’s Special Meeting of Shareholders. Under the terms of the merger agreement, subject to the completion of the transaction, Barnes stockholders will receive $47.50 per share in cash for every share of Barnes common stock they own immediately prior to the effective time of the merger. The transaction is expected to close before the end of Q1 2025, subject to customary closing conditions, including receipt of required regulatory approvals. “We are pleased with the support of our shareholders for our transaction with Apollo Funds,” said Thomas Hook, CEO of Barnes. “In partnership with Apollo, we look forward to accelerating our transformation strategy, enhancing our capabilities, creating new opportunities for innovation investment, and better meeting the diverse and evolving needs of our customers for aerospace and industrial products, systems and solutions.”