Freighter airline Atlas Air Worldwide announced Thursday it is being acquired by investment funds led by Apollo Global Management in an all-cash deal that values the company at $5.2 billion and takes the company private. The buyout signifies a strong endorsement of future growth prospects for the air cargo industry.
Rumors had swirled all week that Atlas Air (NASDAQ: AAWW) was in final negotiations with Apollo on a buyout. Partnering with Apollo on the investment are J.F. Lehman & Co. and Hill...