OM Group plans new debt for buyout by Apollo Global Management

By Sara Rosenberg

New York, June 1 – OM Group Inc. plans on getting new debt financing to help fund its acquisition by Apollo Global Management LLC, according to a news release.

Credit Suisse Securities (USA) LLC is the lead bank on the deal.

Under the agreement, OM Group is being bought for $34 per share in cash.

Closing is expected by the end of this year, subject to customary conditions, the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, regulatory approvals and OM Group stockholder approval.

There is a 35-day “go shop” period.

OM Group is a Cleveland, Ohio-based technology-driven diversified industrial company.

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