logo
Plus   Neg
Share
Email

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

Great Wolf Resorts, Inc. (WOLF) 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) 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 RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
In a signing ceremony for a bill rolling back regulations on small and medium-sized banks, President Donald Trump suggested Thursday he would also consider cutting regulations on larger financial institutions. Trump claimed complex and costly regulations implemented following the 2008 financial crisis... Shares of Hong Kong-listed Samsonite International S.A., the world's biggest luggage maker, tumbled almost 10 percent in Thursday's trading after a short seller issued a report saying that the company suffered from questionable accounting practices and poor corporate governance. Trading in Samsonite's shares were halted after the report was released. In a move likely to add to concerns about the possibility of a global trade war, the Commerce Department has initiated an investigation into whether imports of automobiles and parts threaten to impair U.S. national security. Commerce Secretary Wilbur Ross launched the investigation under Section 232...
Follow RTT