Apollo Global Management to buy Redbox owner for $1.6B

Posted online July 26, 2016 | 11:43 am

Affiliates of private equity firm Apollo Global Management LLC have agreed to buy the owner of Redbox video rental kiosks, Outerwall, in a deal valued at $1.6 billion.

The cash offer represents a 10.9 percent premium to the stock's close last week.

In March, Outerwall announced it would explore strategic and financial alternatives.

Read more from Reuters.

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