Emerald Holding Inc (EEX) News & EventsEEXEmerald Holding Inc

Rosenblatt Downgrades Emerald Holding to Neutral, Price Target $5.03

Rosenblatt analyst Barton Crockett downgraded Emerald Holding (EEX) to Neutral from Buy with a $5.03 price target after Apollo (APO) announced that Apollo-managed funds have entered into an agreement to acquire Emerald for $5.03 per share in cash. There is an $84M break fee, but the firm says it "clearly sees that as unlikely to come into play" and argues that the deal "seems highly likely to be completed consistent with stated expectations."

Maxim Downgrades Emerald Holding to Hold

Maxim downgraded Emerald Holding (EEX) to Hold from Buy after Apollo (APO) announced that Apollo-managed funds have entered into an agreement to acquire Emerald for $5.03 per share in cash.

Apollo Enters Agreements to Acquire Emerald and Questex

Apollo (APO) announced that Apollo-managed funds have entered into separate definitive agreements to acquire Emerald Holding (EEX) and Questex, with the intention to combine the businesses to create a leading North American B2B experiential events and media platform, in an all-cash transaction. Emerald and Questex together would create a scaled B2B events platform with approximately 160 events across complementary end markets, combining Emerald's category-leading exhibitions with Questex's differentiated events portfolio and 365-day digital engagement model. The combined business is expected to be well-positioned to drive organic growth and serve as a strategic partner of choice for founders and operators in the large and fragmented B2B events landscape. Under the terms of the agreement with Emerald, Emerald stockholders will receive $5.03 per share in cash, representing a 42.1% premium to Emerald's unaffected share price, and implying an estimated closing enterprise value of approximately $1.5B. The Emerald Board of Directors unanimously approved the transaction. Onex, which beneficially owns over 90% of Emerald's outstanding shares, has entered into a support agreement to vote in favor of the transaction. Upon completion of the transaction, Emerald's shares will no longer trade on the New York Stock Exchange, and Emerald will become a private company. The transaction is expected to be completed in the second half of 2026, subject to customary closing conditions and regulatory approvals.