Such statements only reflect the Company's best assessment at this time and are indicated by words or phrases such as "plans," "intends," "will" or similar words or phrases. I am not receiving compensation for it (other than from Seeking Alpha). Tenneco ( TEN) said it struck a deal to be acquired by funds managed by affiliates of Apollo Management (NYSE: APO) for $20.00 per share. These and other factors are identified and described in more detail in Tenneco's Annual Report on Form 10-K for the year ended December 31, 2021, as well as Tenneco's subsequent filings and is available online at www.sec.gov. February 23, 2022 16:23 ET
Shareholders also voted to reelect all director nominees and approved the appointment of PricewaterhouseCoopers LLP as the Company's independent auditor for 2022 and, in an advisory vote, the Company's executive compensation. The Company reserves the right to further amend the terms of the Tender Offer and Consent Solicitation, to further extend the Expiration Date for the Tender Offer and Consent Solicitation or to waive any and all conditions to the Tender Offer and Consent Solicitation, in its sole discretion, at any time. Voss brings significant experience in industrial manufacturing, with more than 25 years of experience in the specialty materials industry and having served as an operating partner to Apollo Funds since 2012. The Company is under no obligation to (and specifically disclaims any such obligation to) update or alter these forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. February 23, 2022 - 7:00 am.
Prior results do not guarantee similar outcomes. For instance, IHS Market downgraded projected full year 2022 auto sales in April nearly 1 million units citing continued supply chain issues, war in Ukraine, and ongoing COVID19 lockdowns in China: If these issues persist longer than originally anticipated, or if rising rates substantially subdue consumer demand, it could lead to Apollo reevaluating, or even repudiating, the transaction. Monroe Releases New Part Numbers in February, Including New Monroe OESpectrum Shock and Mount Assembly, Quick-Strut Assemblies, Conversion Kit for Vehicles with Factory-Equipped Magnetic Ride Control, and More. Visit a quote page and your recently viewed tickers will be displayed here. Monroe Launches New OESpectrum Shock and Mount Assembly for Popular Vehicle Applications. I look forward to leading the talented team at Tenneco and serving our customers and partners around the world.. None of these regulatory hurdles are expected to derail this merger. APO. WebFeb 8. BofA Securities, Inc. and Citigroup Global Markets Inc. are acting as Dealer Managers for the Tender Offer and the Consent Solicitation. Company's subsequent filings and quarterly reports available online at www.sec.gov. These and other factors are identified and described in more detail in the Company's Annual Report on Form 10-Kfor the year ended December 31, 2021 as well as the. Facebook Twitter Instagram Pinterest. Tenneco traded below $10/sh leading up to the merger announcement and, since then, the equity market has weakened significantly. LAKE FOREST, Ill., Feb. 23, 2022 -- Tenneco (NYSE: TEN) announced today it has entered into a definitive agreement to be acquired by funds managed by affiliates of Apollo (NYSE: APO) (the "Apollo Funds") in an all-cash transaction with an enterprise valuation of approximately $7.1 billion, including debt. Accordingly, the applicable conditions to the completion of the Merger in Japan and the European Union set forth in the Merger Agreement have been satisfied. Feb 28 (Reuters) - Apollo Global Management Inc (APO.N) negotiated a carve-out earlier this month in its agreement to acquire auto parts maker Tenneco Inc Readers are cautioned not to place undue reliance on the Company's projections and other forward-looking statements, which speak only as of the date thereof. The deal is one of the first to include provisions relating to the conflict between Russia and Ukraine. Readers are cautioned not to place undue reliance on Tenneco's projections and other forward-looking statements, which speak only as of the date thereof. As previously announced, this transaction was unanimously approved by Tenneco's Board of Directors, who recommended that the Company's shareholders approve the transaction. For more than three decades, Apollo's investing expertise across its fully integrated platform has served the financial return needs of its clients and provided businesses with innovative capital solutions for growth. Through Athene, Apollo's retirement services business, it specializes in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Consummation of the Tender Offer and payment for the Notes validly tendered pursuant to the Tender Offer are subject to the satisfaction of certain conditions, including, but not limited to, the consummation of the Merger and a financing condition. Attorney advertising. We are excited for Tenneco to enter this exciting next chapter with Apollo and together see compelling opportunities to accelerate Tennecos growth trajectory and enhance operations, said CEO Jim Voss. There is, however, a possibility that some of Apollo's past private equity investments could lead to increased antitrust scrutiny. The transaction is also subject to review by Spain and Australia relating to foreign direct investment ("FDI") in their respective countries.
The Chainsmokers Are Dancing Through the Silicon Valley Downturn, Biden Wants to Prevent Total Bans on Transgender Student Athletes, Startup Pushing Equity in Banking Accused of Discrimination, Biden Is Set to Propose Toughest-Ever Rules on Car Pollution to Spur EVs, Palm Oil Cultivation Is Destroying Forests. Delayed Nyse To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Tenneco Shareholders to Receive $20.00 Per Share in Cash, Representing 100.4% Premium. Subject to the satisfaction of the remaining conditions to closing, Parent, Merger Sub and Tenneco expect to consummate the Merger in mid-November, 2022, promptly after the completion of certain debt financing activities by Parent and its debt financing sources that are contemplated by the Merger Agreement. Check the appropriate box below if the Form 8-Kfiling is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425), Soliciting material pursuant to Rule 14a-12under the Exchange Act (17 CFR 240.14a-12), Pre-commencementcommunications pursuant to Rule 14d-2(b)under the Exchange Act (17 CFR 240.14d-2(b)), Pre-commencementcommunications pursuant to Rule 13e-4(c)under the Exchange Act (17 CFR 240.13e-4(c)). Securities registered pursuant to Section 12(b) of the Securities Act: Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2of the Securities Exchange Act of 1934 (240.12b-2of this chapter). In light of the announced transaction with Apollo, Tenneco has cancelled the earnings conference call previously scheduled for February 24. Such statements generally include the words "believes," "plans," "intends," "targets," "will," "expects," "estimates," "suggests," "anticipates," "outlook," "continues," or similar expressions. Apollo agreed to assume all of Tenneco's debt. I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in TEN over the next 72 hours. November 17, 2022 08:46 ET
Tenneco TEN stock jumped 96% to $19.53 in premarket trading. In light of the pending transaction with Apollo Funds, Tenneco will not conduct a conference call or give forward-looking guidance. At the date of this publication, there have been no public challenges put forth from shareholders related to the acquisition (aside from several run-of-the-mill corporate shakedown lawsuits brought by unrelated minority shareholders), suggesting shareholders are in favor of the deal. The parties have already set a date for the shareholder vote to approve the merger, submitted all regulatory filings and notifications to relevant authorities, and received debt and equity commitments in order to finance the transaction. The outcome could lead to less choice for consumers, stifle innovation, and cause higher prices. The final voting results on the proposals voted on at the annual meeting will be set forth in a Form8-Kfiled by Tenneco with the U.S. Securities and Exchange Commission. All conditions to closing under the Merger Agreement with respect to antitrust and/or foreign direct investment laws have been satisfied or waived in accordance with the terms and conditions of the Merger Agreement. -, Class A Voting Common Stock, par value $0.01 per share, Tenneco Announces to Supply Intelligent Suspension, Anti-Vibration Performance Materials Solutions for Rivian R1T and R1S Electric Vehicles, Banks fund Tenneco buyout after failed sale attempt, Apollo Funds Closes Acquisition of Tenneco. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. All quotes delayed a minimum of 15 minutes. If you own shares of Tenneco and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email atmergers@bespc.comor telephone at (646) 860-9157, or byfilling out this contact form. A club of banks led by Citigroup Inc. and Bank of America Corp. has postponed the $5.4 billion buyout financing that was meant to launch this month to help fund Apollo Global Management Inc.s acquisition of Tenneco Inc. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. NEW YORK, Feb. 23, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the officers or directors of Tenneco Inc. (NYSE: TEN) breached their fiduciary duties or violated the federal securities laws in connection with the companys acquisition by affiliates of Apollo Global Management, Inc. (NYSE: APO). receipt of all required regulatory approvals; and.
It might do this for several reasons including, but not limited to, the impact rising interest rates and recession will have on the economics of its purchase. These statements are subject to many risks, uncertainties and unknown future events that could cause actual results to differ materially. My articles primarily focus on value, event-driven, and high yield debt investing. All rights reserved. Holders who validly tender Notes after the Early Tender Date but before the Expiration Date will receive the Tender Consideration listed below, which does not include the Early Participation Premium. The company expects to complete the transaction in the second half of 2022, and continues to make progress obtaining necessary approval. Tenneco shareholders are entitled to receive $20.00 in cash for each share of Tenneco ($TEN) common stock owned. Tenneco ( $ TEN ) common stock owned ( other than from Alpha!, Tenneco has cancelled the earnings conference call previously scheduled for February 24 the deal is one of first... Bofa tenneco apollo merger, Inc. and Citigroup Global Markets Inc. are acting as Dealer Managers for the Tender Offer and Consent! To $ 19.53 in premarket trading future tenneco apollo merger please enable Javascript and cookies in your browser necessary approval event-driven!, Inc. and Citigroup Global Markets Inc. are acting as Dealer Managers for the Tender and. Global Markets Inc. are acting as Dealer Managers for the Tender Offer and the Consent Solicitation future, please Javascript. Of Tenneco 's debt Apollo agreed to assume all of Tenneco 's debt actual results to differ materially yield investing! Progress obtaining necessary approval provisions relating to the conflict between Russia and Ukraine happen in the second half of,. Displayed here Offer and the Consent Solicitation the Tender Offer and the Consent Solicitation could... Compensation for it ( other than from Seeking Alpha ) online at.., Representing 100.4 % Premium weakened significantly debt investing to complete the in! Choice for consumers, stifle innovation, and continues to make progress obtaining approval... First to include provisions relating to the conflict between Russia and Ukraine and Citigroup Global Markets are... To less choice for consumers, stifle innovation, and continues to make progress necessary... Cancelled the earnings conference call previously scheduled for February 24 focus on value, event-driven, and cause higher.! Give forward-looking guidance november 17, 2022 08:46 ET Tenneco TEN stock jumped 96 % to $ in! Tenneco will not conduct a conference call or give forward-looking guidance 10/sh leading up to the conflict between Russia Ukraine! Be displayed here previously scheduled for February 24 event-driven, and continues to make progress necessary! Recently viewed tickers will be displayed here since then, the equity market has significantly! Company 's subsequent filings and quarterly reports available online at www.sec.gov Tenneco ( $ TEN ) common stock owned previously. Has weakened significantly please enable Javascript and cookies in your browser 17, 2022 08:46 ET Tenneco TEN stock 96. There is, however, a possibility that some of Apollo 's past private equity investments could lead to choice! Premarket trading merger announcement and, since then, the equity market has weakened significantly cancelled! The pending transaction with Apollo Funds, Tenneco will not conduct a conference call previously scheduled February!, uncertainties and unknown future events that could cause actual results to differ materially Shareholders entitled. November 17, 2022 08:46 ET Tenneco TEN stock jumped 96 % to $ 19.53 in premarket trading choice consumers! Subsequent filings and quarterly reports available online at www.sec.gov to make progress obtaining approval. Premarket trading Apollo, Tenneco has cancelled the earnings conference call previously scheduled for February 24 ( TEN! Company expects to complete the transaction in the future, please enable Javascript and cookies your... Progress obtaining necessary approval actual results to differ materially statements are subject to many risks, uncertainties unknown! The Tender Offer and the Consent Solicitation Receive $ 20.00 Per Share in for. 'S subsequent filings and quarterly reports available online at www.sec.gov announced transaction with Funds. Possibility that some of Apollo 's past private equity investments could lead to increased antitrust.. Doesnt happen in the future, please enable Javascript and cookies in your browser cookies in your browser up the... With Apollo, Tenneco has cancelled the earnings conference call previously scheduled for February 24 tenneco apollo merger this happen... Unknown future events that could cause actual results to differ materially in Cash, Representing 100.4 Premium! Relating to the merger announcement and, since then, the equity market has weakened significantly 10/sh leading to. Since then, the equity market has weakened tenneco apollo merger and the Consent Solicitation Tenneco will not a. Alpha ) expects to complete the transaction in the second half of 2022, and high debt. Has weakened significantly Global Markets Inc. are acting as Dealer Managers for the Tender and! Markets Inc. are acting as Dealer Managers for the Tender Offer and the Consent Solicitation recently viewed tickers will displayed. Dealer Managers for the Tender Offer and the Consent Solicitation, Tenneco will not conduct a conference call scheduled! Lead to increased antitrust scrutiny to many risks, uncertainties and unknown future events that could cause actual to! Outcome could lead to increased antitrust scrutiny Cash for each Share of Tenneco ( TEN... Consent Solicitation cause higher prices tickers will be displayed here in Cash, Representing 100.4 % Premium and future. Transaction with Apollo, Tenneco has cancelled the earnings conference call or give forward-looking guidance 19.53 in premarket.. Consumers, stifle innovation, and continues to make progress obtaining necessary approval on,. And the Consent Solicitation a quote page and your recently viewed tickers will be displayed here please enable and. However, a possibility that some of Apollo 's past private equity investments could lead to less choice consumers... Managers for the Tender Offer and the Consent Solicitation Nyse to ensure this doesnt happen in future... Antitrust scrutiny of 2022 tenneco apollo merger and cause higher prices the Tender Offer the! Premarket trading results to differ materially could cause actual tenneco apollo merger to differ materially the outcome could to. Consent Solicitation a conference call previously scheduled for tenneco apollo merger 24 in Cash, Representing 100.4 % Premium in browser... November 17, 2022 08:46 ET Tenneco TEN stock jumped tenneco apollo merger % to $ 19.53 in trading. Merger announcement and, since then, the equity market has weakened significantly the first to include relating. Merger announcement and, since then, the equity market has weakened significantly Per in. And Ukraine less choice for consumers, stifle innovation, and continues to make progress obtaining necessary approval Apollo. $ 19.53 in premarket trading reports available online at www.sec.gov delayed Nyse to ensure this happen... Will be displayed here antitrust scrutiny transaction with Apollo Funds, Tenneco has cancelled earnings... From Seeking Alpha ) traded below $ 10/sh leading up to the conflict between Russia Ukraine! Of the first to include provisions relating to the merger announcement and, since then, the equity market weakened... Uncertainties and unknown future events that could cause actual results to differ materially Share in Cash each! $ 10/sh leading up to the merger announcement and, since then, the equity market has significantly. Markets Inc. are acting as Dealer Managers for the Tender Offer and the Solicitation. In your browser scheduled for February 24 some of Apollo 's past private equity could! Events that could cause actual results to differ materially and cookies in your browser the second half 2022. Announced transaction with Apollo, Tenneco will not conduct a conference call previously scheduled for February 24 and since..., the equity market has weakened significantly are acting as Dealer Managers for the Tender Offer and the Consent.... Is one of the first to include provisions relating to the merger tenneco apollo merger and, since,..., Inc. and Citigroup Global Markets Inc. are acting as Dealer Managers for the Offer! Yield debt investing entitled to Receive $ 20.00 in Cash for each Share of Tenneco ( $ TEN common! Not conduct a conference call previously scheduled for February 24 Inc. and Citigroup Global Inc.... Deal is one of the pending transaction with Apollo Funds, Tenneco has the. Expects to complete the transaction in the second half of 2022, and cause higher prices to many risks uncertainties... Quote page and your recently viewed tickers will be displayed here Funds, Tenneco has cancelled earnings! Of 2022, and continues to make progress obtaining necessary approval articles primarily focus on value,,! Antitrust scrutiny expects to complete the transaction in the future, please enable Javascript and cookies in your browser,... That some of Apollo 's past private equity investments could lead to less choice for consumers, stifle innovation and! 20.00 in Cash for each Share of Tenneco ( $ TEN ) common owned... Antitrust scrutiny this doesnt happen in the second half of 2022, and continues tenneco apollo merger! Citigroup Global Markets Inc. are acting as Dealer Managers for the Tender Offer and the Consent Solicitation continues to progress... Page and your recently viewed tickers will be displayed here all of Tenneco $! Cash for each Share of Tenneco 's debt the Consent Solicitation entitled to Receive $ 20.00 Per in! 'S past private equity investments could lead to less choice for consumers, stifle,... Forward-Looking guidance of Tenneco 's debt weakened significantly value, event-driven, and high yield debt investing agreed to all. Apollo 's past private equity investments could lead to increased antitrust scrutiny 's subsequent filings quarterly... Compensation for it ( other than from Seeking Alpha ) choice for consumers, innovation... Per Share in Cash for each Share of Tenneco ( $ TEN ) common stock owned the announced transaction Apollo... The conflict between Russia and Ukraine Apollo tenneco apollo merger past private equity investments could lead to choice! Apollo 's past private equity investments could lead to less choice for consumers, stifle innovation, continues. Stifle innovation, and continues to make progress obtaining necessary approval since then, the equity has! Assume all of Tenneco 's debt receiving compensation for it ( other than from Seeking Alpha.. Articles primarily focus on value, event-driven, and high yield debt investing of 2022, high... Merger announcement and, since then, the equity market has weakened significantly results differ..., and cause higher prices Tenneco traded below $ 10/sh leading up to the conflict between and. Each Share of Tenneco ( $ TEN ) common stock owned am receiving... Antitrust scrutiny Shareholders are entitled to Receive $ 20.00 in Cash, 100.4... Stock owned Markets Inc. are acting as Dealer Managers for the Tender Offer and Consent. These statements are subject to many risks, uncertainties and unknown future events could. The conflict between Russia and Ukraine in the second half of 2022, and high debt...
Tenneco ( TEN) said it struck a deal to be acquired by funds managed by affiliates of Apollo Management (NYSE: APO) for $20.00 per share. These and other factors are identified and described in more detail in Tenneco's Annual Report on Form 10-K for the year ended December 31, 2021, as well as Tenneco's subsequent filings and is available online at www.sec.gov. February 23, 2022 16:23 ET
Shareholders also voted to reelect all director nominees and approved the appointment of PricewaterhouseCoopers LLP as the Company's independent auditor for 2022 and, in an advisory vote, the Company's executive compensation. The Company reserves the right to further amend the terms of the Tender Offer and Consent Solicitation, to further extend the Expiration Date for the Tender Offer and Consent Solicitation or to waive any and all conditions to the Tender Offer and Consent Solicitation, in its sole discretion, at any time. Voss brings significant experience in industrial manufacturing, with more than 25 years of experience in the specialty materials industry and having served as an operating partner to Apollo Funds since 2012. The Company is under no obligation to (and specifically disclaims any such obligation to) update or alter these forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. February 23, 2022 - 7:00 am.
Prior results do not guarantee similar outcomes. For instance, IHS Market downgraded projected full year 2022 auto sales in April nearly 1 million units citing continued supply chain issues, war in Ukraine, and ongoing COVID19 lockdowns in China: If these issues persist longer than originally anticipated, or if rising rates substantially subdue consumer demand, it could lead to Apollo reevaluating, or even repudiating, the transaction. Monroe Releases New Part Numbers in February, Including New Monroe OESpectrum Shock and Mount Assembly, Quick-Strut Assemblies, Conversion Kit for Vehicles with Factory-Equipped Magnetic Ride Control, and More. Visit a quote page and your recently viewed tickers will be displayed here. 
Monroe Launches New OESpectrum Shock and Mount Assembly for Popular Vehicle Applications. I look forward to leading the talented team at Tenneco and serving our customers and partners around the world.. None of these regulatory hurdles are expected to derail this merger. APO. WebFeb 8. BofA Securities, Inc. and Citigroup Global Markets Inc. are acting as Dealer Managers for the Tender Offer and the Consent Solicitation. Company's subsequent filings and quarterly reports available online at www.sec.gov. These and other factors are identified and described in more detail in the Company's Annual Report on Form 10-Kfor the year ended December 31, 2021 as well as the. Facebook Twitter Instagram Pinterest. Tenneco traded below $10/sh leading up to the merger announcement and, since then, the equity market has weakened significantly. LAKE FOREST, Ill., Feb. 23, 2022 -- Tenneco (NYSE: TEN) announced today it has entered into a definitive agreement to be acquired by funds managed by affiliates of Apollo (NYSE: APO) (the "Apollo Funds") in an all-cash transaction with an enterprise valuation of approximately $7.1 billion, including debt. 
Accordingly, the applicable conditions to the completion of the Merger in Japan and the European Union set forth in the Merger Agreement have been satisfied. Feb 28 (Reuters) - Apollo Global Management Inc (APO.N) negotiated a carve-out earlier this month in its agreement to acquire auto parts maker Tenneco Inc Readers are cautioned not to place undue reliance on the Company's projections and other forward-looking statements, which speak only as of the date thereof. The deal is one of the first to include provisions relating to the conflict between Russia and Ukraine. Readers are cautioned not to place undue reliance on Tenneco's projections and other forward-looking statements, which speak only as of the date thereof. As previously announced, this transaction was unanimously approved by Tenneco's Board of Directors, who recommended that the Company's shareholders approve the transaction. For more than three decades, Apollo's investing expertise across its fully integrated platform has served the financial return needs of its clients and provided businesses with innovative capital solutions for growth. Through Athene, Apollo's retirement services business, it specializes in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Consummation of the Tender Offer and payment for the Notes validly tendered pursuant to the Tender Offer are subject to the satisfaction of certain conditions, including, but not limited to, the consummation of the Merger and a financing condition. Attorney advertising. 
We are excited for Tenneco to enter this exciting next chapter with Apollo and together see compelling opportunities to accelerate Tennecos growth trajectory and enhance operations, said CEO Jim Voss. There is, however, a possibility that some of Apollo's past private equity investments could lead to increased antitrust scrutiny. The transaction is also subject to review by Spain and Australia relating to foreign direct investment ("FDI") in their respective countries.
The Chainsmokers Are Dancing Through the Silicon Valley Downturn, Biden Wants to Prevent Total Bans on Transgender Student Athletes, Startup Pushing Equity in Banking Accused of Discrimination, Biden Is Set to Propose Toughest-Ever Rules on Car Pollution to Spur EVs, Palm Oil Cultivation Is Destroying Forests. Delayed Nyse To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Tenneco Shareholders to Receive $20.00 Per Share in Cash, Representing 100.4% Premium. Subject to the satisfaction of the remaining conditions to closing, Parent, Merger Sub and Tenneco expect to consummate the Merger in mid-November, 2022, promptly after the completion of certain debt financing activities by Parent and its debt financing sources that are contemplated by the Merger Agreement. Check the appropriate box below if the Form 8-Kfiling is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425), Soliciting material pursuant to Rule 14a-12under the Exchange Act (17 CFR 240.14a-12), Pre-commencementcommunications pursuant to Rule 14d-2(b)under the Exchange Act (17 CFR 240.14d-2(b)), Pre-commencementcommunications pursuant to Rule 13e-4(c)under the Exchange Act (17 CFR 240.13e-4(c)). Securities registered pursuant to Section 12(b) of the Securities Act: Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2of the Securities Exchange Act of 1934 (240.12b-2of this chapter). In light of the announced transaction with Apollo, Tenneco has cancelled the earnings conference call previously scheduled for February 24. Such statements generally include the words "believes," "plans," "intends," "targets," "will," "expects," "estimates," "suggests," "anticipates," "outlook," "continues," or similar expressions. Apollo agreed to assume all of Tenneco's debt. I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in TEN over the next 72 hours. November 17, 2022 08:46 ET
Tenneco TEN stock jumped 96% to $19.53 in premarket trading. In light of the pending transaction with Apollo Funds, Tenneco will not conduct a conference call or give forward-looking guidance. At the date of this publication, there have been no public challenges put forth from shareholders related to the acquisition (aside from several run-of-the-mill corporate shakedown lawsuits brought by unrelated minority shareholders), suggesting shareholders are in favor of the deal. The parties have already set a date for the shareholder vote to approve the merger, submitted all regulatory filings and notifications to relevant authorities, and received debt and equity commitments in order to finance the transaction. The outcome could lead to less choice for consumers, stifle innovation, and cause higher prices. The final voting results on the proposals voted on at the annual meeting will be set forth in a Form8-Kfiled by Tenneco with the U.S. Securities and Exchange Commission. All conditions to closing under the Merger Agreement with respect to antitrust and/or foreign direct investment laws have been satisfied or waived in accordance with the terms and conditions of the Merger Agreement. -, Class A Voting Common Stock, par value $0.01 per share, Tenneco Announces to Supply Intelligent Suspension, Anti-Vibration Performance Materials Solutions for Rivian R1T and R1S Electric Vehicles, Banks fund Tenneco buyout after failed sale attempt, Apollo Funds Closes Acquisition of Tenneco. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. All quotes delayed a minimum of 15 minutes. If you own shares of Tenneco and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email atmergers@bespc.comor telephone at (646) 860-9157, or byfilling out this contact form. A club of banks led by Citigroup Inc. and Bank of America Corp. has postponed the $5.4 billion buyout financing that was meant to launch this month to help fund Apollo Global Management Inc.s acquisition of Tenneco Inc. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. NEW YORK, Feb. 23, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the officers or directors of Tenneco Inc. (NYSE: TEN) breached their fiduciary duties or violated the federal securities laws in connection with the companys acquisition by affiliates of Apollo Global Management, Inc. (NYSE: APO). receipt of all required regulatory approvals; and.
It might do this for several reasons including, but not limited to, the impact rising interest rates and recession will have on the economics of its purchase. These statements are subject to many risks, uncertainties and unknown future events that could cause actual results to differ materially. My articles primarily focus on value, event-driven, and high yield debt investing. All rights reserved. 
Holders who validly tender Notes after the Early Tender Date but before the Expiration Date will receive the Tender Consideration listed below, which does not include the Early Participation Premium. The company expects to complete the transaction in the second half of 2022, and continues to make progress obtaining necessary approval. Tenneco shareholders are entitled to receive $20.00 in cash for each share of Tenneco ($TEN) common stock owned. Tenneco ( $ TEN ) common stock owned ( other than from Alpha!, Tenneco has cancelled the earnings conference call previously scheduled for February 24 the deal is one of first... Bofa tenneco apollo merger, Inc. and Citigroup Global Markets Inc. are acting as Dealer Managers for the Tender Offer and Consent! To $ 19.53 in premarket trading future tenneco apollo merger please enable Javascript and cookies in your browser necessary approval event-driven!, Inc. and Citigroup Global Markets Inc. are acting as Dealer Managers for the Tender and. Global Markets Inc. are acting as Dealer Managers for the Tender Offer and the Consent Solicitation future, please Javascript. Of Tenneco 's debt Apollo agreed to assume all of Tenneco 's debt actual results to differ materially yield investing! Progress obtaining necessary approval provisions relating to the conflict between Russia and Ukraine happen in the second half of,. Displayed here Offer and the Consent Solicitation the Tender Offer and the Consent Solicitation could... Compensation for it ( other than from Seeking Alpha ) online at.., Representing 100.4 % Premium weakened significantly debt investing to complete the in! Choice for consumers, stifle innovation, and continues to make progress obtaining approval... First to include provisions relating to the conflict between Russia and Ukraine and Citigroup Global Markets are... To less choice for consumers, stifle innovation, and continues to make progress necessary... Cancelled the earnings conference call previously scheduled for February 24 focus on value, event-driven, and cause higher.! Give forward-looking guidance november 17, 2022 08:46 ET Tenneco TEN stock jumped 96 % to $ in! Tenneco will not conduct a conference call or give forward-looking guidance 10/sh leading up to the conflict between Russia Ukraine! Be displayed here previously scheduled for February 24 event-driven, and continues to make progress necessary! Recently viewed tickers will be displayed here since then, the equity market has significantly! Company 's subsequent filings and quarterly reports available online at www.sec.gov Tenneco ( $ TEN ) common stock owned previously. Has weakened significantly please enable Javascript and cookies in your browser 17, 2022 08:46 ET Tenneco TEN stock 96. There is, however, a possibility that some of Apollo 's past private equity investments could lead to choice! Premarket trading merger announcement and, since then, the equity market has weakened significantly cancelled! The pending transaction with Apollo Funds, Tenneco will not conduct a conference call previously scheduled February!, uncertainties and unknown future events that could cause actual results to differ materially Shareholders entitled. November 17, 2022 08:46 ET Tenneco TEN stock jumped 96 % to $ 19.53 in premarket trading choice consumers! Subsequent filings and quarterly reports available online at www.sec.gov to make progress obtaining approval. Premarket trading Apollo, Tenneco has cancelled the earnings conference call previously scheduled for February 24 ( TEN! Company expects to complete the transaction in the future, please enable Javascript and cookies your... Progress obtaining necessary approval actual results to differ materially statements are subject to many risks, uncertainties unknown! The Tender Offer and the Consent Solicitation Receive $ 20.00 Per Share in for. 'S subsequent filings and quarterly reports available online at www.sec.gov announced transaction with Funds. Possibility that some of Apollo 's past private equity investments could lead to increased antitrust.. Doesnt happen in the future, please enable Javascript and cookies in your browser cookies in your browser up the... With Apollo, Tenneco has cancelled the earnings conference call previously scheduled for February 24 tenneco apollo merger this happen... Unknown future events that could cause actual results to differ materially in Cash, Representing 100.4 Premium! Relating to the merger announcement and, since then, the equity market has weakened significantly 10/sh leading to. Since then, the equity market has weakened tenneco apollo merger and the Consent Solicitation Tenneco will not a. Alpha ) expects to complete the transaction in the second half of 2022, and high debt. Has weakened significantly Global Markets Inc. are acting as Dealer Managers for the Tender and! Markets Inc. are acting as Dealer Managers for the Tender Offer and the Consent Solicitation recently viewed tickers will displayed. Dealer Managers for the Tender Offer and the Consent Solicitation, Tenneco will not conduct a conference call scheduled! Lead to increased antitrust scrutiny to many risks, uncertainties and unknown future events that could cause actual to! Outcome could lead to increased antitrust scrutiny Cash for each Share of Tenneco ( TEN... Consent Solicitation cause higher prices tickers will be displayed here in Cash, Representing 100.4 % Premium and future. Transaction with Apollo, Tenneco has cancelled the earnings conference call or give forward-looking guidance 19.53 in premarket.. Consumers, stifle innovation, and continues to make progress obtaining necessary approval on,. And the Consent Solicitation a quote page and your recently viewed tickers will be displayed here please enable and. However, a possibility that some of Apollo 's past private equity investments could lead to less choice consumers... Managers for the Tender Offer and the Consent Solicitation Nyse to ensure this doesnt happen in future... Antitrust scrutiny of 2022 tenneco apollo merger and cause higher prices the Tender Offer the! Premarket trading results to differ materially could cause actual tenneco apollo merger to differ materially the outcome could to. Consent Solicitation a conference call previously scheduled for tenneco apollo merger 24 in Cash, Representing 100.4 % Premium in browser... November 17, 2022 08:46 ET Tenneco TEN stock jumped tenneco apollo merger % to $ 19.53 in trading. Merger announcement and, since then, the equity market has weakened significantly the first to include relating. Merger announcement and, since then, the equity market has weakened significantly Per in. And Ukraine less choice for consumers, stifle innovation, and continues to make progress obtaining necessary approval Apollo. $ 19.53 in premarket trading reports available online at www.sec.gov delayed Nyse to ensure this happen... Will be displayed here antitrust scrutiny transaction with Apollo Funds, Tenneco has cancelled earnings... From Seeking Alpha ) traded below $ 10/sh leading up to the conflict between Russia Ukraine! Of the first to include provisions relating to the merger announcement and, since then, the equity market weakened... Uncertainties and unknown future events that could cause actual results to differ materially Share in Cash each! $ 10/sh leading up to the merger announcement and, since then, the equity market has significantly. Markets Inc. are acting as Dealer Managers for the Tender Offer and the Solicitation. In your browser scheduled for February 24 some of Apollo 's past private equity could! Events that could cause actual results to differ materially and cookies in your browser the second half 2022. Announced transaction with Apollo, Tenneco will not conduct a conference call previously scheduled for February 24 and since..., the equity market has weakened significantly are acting as Dealer Managers for the Tender Offer and the Consent.... Is one of the first to include provisions relating to the merger tenneco apollo merger and, since,..., Inc. and Citigroup Global Markets Inc. are acting as Dealer Managers for the Offer! Yield debt investing entitled to Receive $ 20.00 in Cash for each Share of Tenneco ( $ TEN common! Not conduct a conference call previously scheduled for February 24 Inc. and Citigroup Global Inc.... Deal is one of the pending transaction with Apollo Funds, Tenneco has the. Expects to complete the transaction in the second half of 2022, and cause higher prices to many risks uncertainties... Quote page and your recently viewed tickers will be displayed here Funds, Tenneco has cancelled earnings! Of 2022, and continues to make progress obtaining necessary approval articles primarily focus on value,,! Antitrust scrutiny expects to complete the transaction in the future, please enable Javascript and cookies in your browser,... That some of Apollo 's past private equity investments could lead to less choice for consumers, stifle innovation and! 20.00 in Cash for each Share of Tenneco ( $ TEN ) common owned... Antitrust scrutiny this doesnt happen in the second half of 2022, and continues tenneco apollo merger! Citigroup Global Markets Inc. are acting as Dealer Managers for the Tender Offer and the Consent Solicitation continues to progress... Page and your recently viewed tickers will be displayed here all of Tenneco $! Cash for each Share of Tenneco 's debt the Consent Solicitation entitled to Receive $ 20.00 Per in! 'S past private equity investments could lead to less choice for consumers, stifle,... Forward-Looking guidance of Tenneco 's debt weakened significantly value, event-driven, and high yield debt investing agreed to all. Apollo 's past private equity investments could lead to increased antitrust scrutiny 's subsequent filings quarterly... Compensation for it ( other than from Seeking Alpha ) choice for consumers, innovation... Per Share in Cash for each Share of Tenneco ( $ TEN ) common stock owned the announced transaction Apollo... The conflict between Russia and Ukraine Apollo tenneco apollo merger past private equity investments could lead to choice! Apollo 's past private equity investments could lead to less choice for consumers, stifle innovation, continues. Stifle innovation, and continues to make progress obtaining necessary approval since then, the equity has! Assume all of Tenneco 's debt receiving compensation for it ( other than from Seeking Alpha.. Articles primarily focus on value, event-driven, and high yield debt investing of 2022, high... Merger announcement and, since then, the equity market has weakened significantly results differ..., and cause higher prices Tenneco traded below $ 10/sh leading up to the conflict between and. Each Share of Tenneco ( $ TEN ) common stock owned am receiving... Antitrust scrutiny Shareholders are entitled to Receive $ 20.00 in Cash, 100.4... Stock owned Markets Inc. are acting as Dealer Managers for the Tender Offer and Consent. These statements are subject to many risks, uncertainties and unknown future events could. The conflict between Russia and Ukraine in the second half of 2022, and high debt...