Apollo closing in on $2.3 billion deal to buy Worldline: WSJ

Investment fund Apollo Global Management Inc. APO, -5.74% is closing in on a deal to buy the point-of-sale (POS) terminal business of France-based Worldline SA WRDLY, +4.32% WLN, +5.78% for nearly EUR2 billion ($2.3 billion), according to a report in The Wall Street Journal on Friday. Worldline shares were rallying 8% in Paris trading, while Apollo’s stock was still inactive in premarket trading. Citing people familiar with the matter, the WSJ report said the deal could be announced in the coming days. Apollo would acquire in the deal hardware that allows consumers to use mobile phones any payment cards to make purchases, the report said. The U.S.-listed shares of Worldline have dropped 11.9% over the past three months and Apollo’s stock has dropped 7.0%, while the S&P 500 SPX, -1.90% has slipped 3.1%.