Certain Funds Affiliated with Apollo Global Management Announce Commencement of Tender Offer for All Outstanding Shares of Outerwall

NEW YORK--(BUSINESS WIRE)--Certain funds affiliated with Apollo Global Management, LLC (NYSE:APO) (together with its consolidated subsidiaries, “Apollo”) announced the commencement of a cash tender offer to purchase all of the outstanding shares of common stock of Outerwall Inc. (NASDAQ:OUTR) (“Outerwall”). The tender offer is being made pursuant to the merger agreement (the “Merger Agreement”) announced by Apollo and Outerwall on July 25, 2016 under which certain funds affiliated with Apollo, a leading global alternative investment manager, will acquire Outerwall for $52.00 per share. The transaction has a total enterprise value of approximately $1.6 billion, including net debt.