Reuters: ILG explores merger with Apollo's Diamond Resorts
Mar. 21, 2018 4:32 PM ET|About: Apollo Global Management, LLC (APO)|By: Carl Surran, SA News Editor
Vacation timeshare property provider ILG Inc. (NASDAQ:ILG) is exploring a merger with Apollo Global Management's (NYSE:APO) Diamond Resorts International as an alternative to a sale, Reuters reports.
The talks are aimed at giving ILG leverage in case negotiations with Marriott Vacations about a potential buyout are not successful, according to the report.
A merger with APO would add more than 400 of Diamond Resorts' vacation destinations in 35 countries to ILG's 250 managed resorts in 80 countries, and could allow ILG CEO Craig Nash to lead the combined company.
Mar. 21, 2018 4:32 PM ET|About: Apollo Global Management, LLC (APO)|By: Carl Surran, SA News Editor
Vacation timeshare property provider ILG Inc. (NASDAQ:ILG) is exploring a merger with Apollo Global Management's (NYSE:APO) Diamond Resorts International as an alternative to a sale, Reuters reports.
The talks are aimed at giving ILG leverage in case negotiations with Marriott Vacations about a potential buyout are not successful, according to the report.
A merger with APO would add more than 400 of Diamond Resorts' vacation destinations in 35 countries to ILG's 250 managed resorts in 80 countries, and could allow ILG CEO Craig Nash to lead the combined company.