Apollo, an American asset management firm, agreed to acquire a 22% stake in Applus, a Spanish industrial testing company, for €300m. I Squared and TDR offered to pay €9.75 per Applus share. The bid values Applus at €1.26bn. The companies are bidding against Apollo, which offered €9.5 per share. On January 24, 2024, Apollo raised the bid to acquire a 22% stake in Applus for €10.65 per share.