Apollo Global, others to acquire Air Lease for $65.00 per share in cash

Sumitomo Corporation (SSUMY), SMBC Aviation Capital, Apollo managed funds (APO) and Brookfield (BAM), announced that they have reached a definitive agreement to acquire Air Lease (AL). Upon closing, Air Lease will be renamed Sumisho Air Lease, a newly established entity. Apollo and Brookfield have agreed to provide capital to support the transaction. Under the terms of the agreement, Air Lease common stockholders will receive $65.00 per share in cash, representing a total valuation of approximately $7.4B, or approximately $28.2B including debt obligations to be assumed or refinanced net of cash. The cash consideration represents a 7% premium over Air Lease’s all-time high closing stock price on August 28, 2025, a 14% premium over the volume weighted average share price during the 30 trading day period ended August 29, 2025, and a 31% premium over the volume weighted average share price during the last 12 months’ trading day period ended August 29, 2025. The Board of Directors of Air Lease has unanimously approved the agreement. The transaction is subject to customary closing conditions, including approval by Air Lease’s common stockholders and receipt of certain regulatory approvals, and is expected to close in the first half of 2026. Air Lease’s directors and certain executive officers have agreed to vote the shares of common stock held by them in favor of the transaction.