AcquisitionsMay 11, 2026, 06:33 AM
Apollo Funds to Acquire Emerald & Questex for $1.5B; Combine Businesses
AI Summary
Apollo-managed funds announced definitive agreements to acquire Emerald Holding, Inc. and Questex, LLC in an all-cash transaction, with the intention to combine them into a leading North American B2B experiential events and media platform. Emerald stockholders will receive $5.03 per share, representing a 42.1% premium and an estimated enterprise value of approximately $1.5 billion. The combined entity is expected to operate around 160 events and drive organic growth. The transaction is anticipated to close in the second half of 2026, and Emerald has cancelled its Q1 2026 earnings call following the announcement.
Key Highlights
- Apollo-managed funds to acquire Emerald Holding, Inc. and Questex, LLC.
- Intention to combine Emerald and Questex into a leading B2B events and media platform.
- Emerald stockholders to receive $5.03 per share in cash.
- This represents a 42.1% premium to Emerald's unaffected share price.
- Implies an estimated closing enterprise value of approximately $1.5 billion for Emerald.
- Combined business expected to have approximately 160 events.
- Transaction expected to be completed in the second half of 2026.
- Emerald Board declared a quarterly dividend of $0.015 per share.
- Emerald cancelled its first quarter 2026 earnings conference call.