Apollo Global to buy industrial magnet maker OM for $1.03 billion

June 1, 2015 1:20 PM

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Private equity firm Apollo Global Management LLC (APO.N) will buy industrial magnet and battery maker OM Group Inc (OMG.N) for about $1.03 billion in cash.

OM said on Monday that Apollo Global's offer of $34 per share for the company represents a premium of 28 percent to its Friday close.

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