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A group led by Apollo Global ManagementAPO is in advanced talks to acquire the airfreight company Atlas Air Worldwide Holdings, IncAAWW, reported Wall Street Journal, citing people familiar with the matter.
The source states that a deal could come soon, assuming talks don’t fall apart.
Atlas Air, situated in Purchase, New York, has a market value of about $2 billion and flies for freight, business, charter, and the military.
It stated in 2016 that it had reached a contract with AMZNAmazon.com Inc. to offer air transportation services in exchange for the e-commerce behemoth receiving warrants to buy the company’s stock.
Price Action: AAWW shares are trading higher by 0.93% at $85.78 during the premarket session on Tuesday. APO closed higher by 0.07% at $57.12 on Monday.
