(Bloomberg) -- Apollo Global Management Inc. is considering bidding as much as $2.78 billion for equipment and parts manufacturer Arconic Corp., according to a person familiar with the matter.Most Read from BloombergTrump Faces Fingerprints, Mug Shot After Dramatic IndictmentSingapore’s Changi Airport Warns of Delays Due to System Issues$335,000 Pay for ‘AI Whisperer’ Jobs Appears in Red-Hot Market$52 Billion Chipmaking Plan Is Racing Toward FailureA $3 Trillion Threat to Global Financial Market
Apollo Global Management Inc has been telling investors and analysts in the last few days that its reinsurance business Athene does not face the risk of a run on its annuities akin to how deposits fled some U.S. regional banks. Apollo shares have lost 15% of their value since the banking crisis started on March 8, a greater drop than experienced by major peers Blackstone Inc, KKR & Co Inc and Carlyle Group Inc. In a quarterly update to shareholders published on March 13, Apollo outlined how Athene's funding model is different than a bank's. Most of the annuities that Athene provides cannot be surrendered by their holders, it said, and Apollo called its balance sheet a "fortress" that can withstand withdrawals from those who have the right to pull their money.
(Bloomberg) -- Oldenburgische Landesbank AG, the private equity-backed German lender, has paused work on a planned initial public offering that was expected to take place as early as in May, people with knowledge of the matter said.Most Read from BloombergDeutsche Bank Drops in Selloff Citi Describes as IrrationalJack Dorsey’s Wealth Tumbles $526 Million After Hindenburg ShortUBS Sends Khan to Stem Credit Suisse’s Private Banker ExitsCredit Suisse, UBS Among Banks in DOJ Russia-Sanctions ProbeTh