India, Feb. 24 -- Shares of Bridge Investment Group Holdings Inc. (BRDG) were surging around 34 percent in the pre-market activity on the NYSE after the company announced Monday an agreement to be bought by Apollo Global Management, Inc.(APO) in an all-stock transaction with an equity value of around $1.5 billion. Further, the company reported narrower net loss in its fourth quarter with increased revenues.
Bridge also declared a quarterly dividend of $0.11 per share of Class A common stock, payable on March 28 to stockholders of record on March 14.
In the deal, Bridge stockholders and Bridge OpCo unitholders will receive, at closing, 0.07081 shares of Apollo stock for each share of Bridge Class A common stock and each Bridge OpCo Class A...