logo
Share SHARE
FONT-SIZE Plus   Neg

Great Wolf Resorts Says KSL Withdraws, Recommends Apollo Offer - Quick Facts

Great Wolf Resorts, Inc. (WOLF: Quote) late Friday said that private equity firm KSL Capital Partners, which has been eying waterpark resorts operator, informed that it does not intend to submit any further takeover proposals.

Great Wolf has already agreed to be acquired by Apollo Global Management (APO: Quote) for its revised offer of $7.85 per share in cash, and urged its shareholders to accept that offer. Apollo's revised tender offer is scheduled to expire on Friday, May 4.

Great Wolf said the sweetened offer represents a premium of 87% over Great Wolf's closing stock price on the day prior to the announcement of Apollo's original offer on March 12. It also represents a premium of 171% to the six-month average of Great Wolf's share price prior to the initial announcement.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
American Airlines Group said pilots at its subsidiaries American Airlines and US Airways, represented by Allied Pilots Association, have approved a new five-year contract which provides immediate pay raises of 23 percent and subsequent annual raises of three percent for the next five years. LEGO Group, TT Games and Warner Bros. Interactive Entertainment have announced their 2015 slate of video games, including LEGO Jurassic World, LEGO Marvel's Avengers, and as well as new hand-held and mobile titles. Social-networking giant Facebook, Inc. is said to be testing their new 'Place Tips' feature for iOS users that will rival a similar service being provided by Yelp or Foursquare. The feature will provide the user relevant content about their location as long as they are there through pop ups on their news feed page of Facebook.
comments powered by Disqus
Follow RTT