NEW YORK, April 27, 2016 /PRNewswire/ -- Certain funds
affiliated with Apollo Global Management, LLC (NYSE: APO) (together
with its consolidated subsidiaries, "Apollo"), a leading global alternative
investment manager, today announced the successful completion of
the previously announced transaction, whereby certain Apollo affiliated funds and certain other
investors acquired the stock of The Fresh Market, Inc. (NASDAQ:
TFM) ("The Fresh Market").
The acquisition was effected through a tender offer followed by
a merger. As previously announced, the tender offer, which was made
at $28.50 per share pursuant to the
agreement and plan of merger entered into by affiliates of
Apollo and The Fresh Market on
March 11, 2016 (the "Merger
Agreement"), expired as scheduled at 12:00 midnight, New York City time, on April 21, 2016 (one minute after 11:59 P.M. on April 21,
2016). On April 22, 2016,
shares that were validly tendered (other than shares tendered by
guaranteed delivery where actual delivery had not occurred) and not
withdrawn, which constituted approximately 68.2% of the outstanding
shares of The Fresh Market, were accepted for payment. Shares
validly tendered by guaranteed delivery were accepted for payment
upon receipt. On April 27, 2016, in
accordance with the Merger Agreement and Section 251(h) of the
General Corporation Law of the State of
Delaware, the acquisition was completed by merging The Fresh
Market with an affiliate of Apollo. In connection with the merger, all
shares not validly tendered in the tender offer (subject to certain
exceptions, including shares for which appraisal rights were
validly demanded) were cancelled and converted into the right to
receive $28.50 per share. As a
result, The Fresh Market became a privately-held company and The
Fresh Market's common stock ceased trading on the NASDAQ.
About Apollo
Apollo (NYSE: APO) is a leading
global alternative investment manager with offices in New York, Los
Angeles, Houston,
Chicago, Bethesda, Toronto, London, Frankfurt, Madrid, Luxembourg, Singapore, Mumbai, Delhi, Shanghai and Hong
Kong. Apollo had assets
under management of approximately $170
billion as of December 31,
2015, in private equity, credit and real estate funds
invested across a core group of nine industries where Apollo has considerable knowledge and
resources. For more information about Apollo, please visit www.agm.com.
Forward-Looking Statements
This press release contains "forward-looking statements."
Words such as "believe," 'intend," "demonstrate," "expect,"
"estimate," "anticipate," "should" and "likely" and similar
expressions identify forward-looking statements. In addition,
statements that are not historical should also be considered
forward-looking statements. Readers are cautioned not to place
undue reliance on those forward-looking statements, which speak
only as of the date the statement was made. Such forward-looking
statements are based on current expectations that involve a number
of known and unknown risks, uncertainties and other factors which
may cause actual events to be materially different from those
expressed or implied by such forward-looking statements. These
risks include uncertainties associated with the Apollo tender offer and the merger including
uncertainties as to the timing of the tender offer and merger,
uncertainties as to how many of The Fresh Market's stockholders
will tender their shares in the offer, the risk that competing
offers will be made, and the possibility that various closing
conditions for the transaction may not be satisfied or waived.
Other factors may cause The Fresh Market's actual results to differ
materially from those expressed or implied in the forward-looking
statements and such factors are discussed in The Fresh Market's
filings with the U.S. Securities and Exchange Commission ("SEC"),
including its Annual Report on Form 10-K for the fiscal year ended
January 31, 2016, and subsequent
reports filed by The Fresh Market with the SEC. Copies of The Fresh
Market's filings with the SEC may be obtained, free of charge, from
The Fresh Market at ir.thefreshmarket.com or by directing a request
to Fresh Market's Investor Relations, at 336-615-8065 or
investorrelations@thefreshmarket.com. or on the SEC's website
at www.sec.gov. In addition, other factors may cause
Apollo's actual results to differ
materially from those expressed or implied in the forward-looking
statements and such factors are discussed in Apollo's filings with the SEC, including its
Annual Report on Form 10-K for the fiscal year ended December 31, 2015, and subsequent reports filed
by Apollo with the SEC. Copies of
Apollo's filings with the SEC may
be obtained on the SEC's website at
www.sec.gov.
The forward-looking statements included in this announcement
are made as of the date hereof. Apollo is not under any obligation to (and
expressly disclaims any such obligation to) update any of the
information in this press release if any forward-looking statement
later turns out to be inaccurate whether as a result of new
information, future events or otherwise, except as otherwise may be
required by the federal securities laws.
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SOURCE Apollo Global Management
