Apollo Global Affiliates to Acquire Redbox Owner in $1.6B Deal

Industries Reuters

Outerwall, the owner of Redbox video rental kiosks, said it had agreed to be bought by the affiliates of private equity firm Apollo Global Management LLC, in a deal valued at about $1.6 billion.

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The cash offer of $52 per share is a premium of 10.9 percent to the stock's Friday close.

Outerwall said in March that it would explore strategic and financial alternatives.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Kirti Pandey)