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

4/20/2012 9:42 PM ET

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.

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by RTT Staff Writer

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