Great Wolf Resorts Receives $6.25 Per Share Acquisition Proposal
April 6, 2012 - Great Wolf Resorts, Inc. (NASDAQ: WOLF) today announced that it has received an unsolicited letter from KSL Capital Partners proposing to acquire Great Wolf for $6.25 per share in cash, subject to certain conditions, including due diligence and certain conditions related to debt waivers.
Great Wolf Resorts, Inc. (NASDAQ: WOLF) today announced that it has received an unsolicited letter from KSL Capital Partners proposing to acquire Great Wolf for $6.25 per share in cash, subject to certain conditions, including due diligence and certain conditions related to debt waivers. The Company had previously entered into a definitive merger agreement with an affiliate of Apollo Global Management, LLC (NYSE: APO) providing for Apollo to acquire Great Wolf for $5.00 per share in cash.
Great Wolf's Board of Directors, consistent with its fiduciary duties and in consultation with its independent financial and legal advisors, will consider and evaluate the proposal and will pursue the course of action that is in the best interests of Great Wolf and its stockholders. Great Wolf will have no further comment on this matter at this time.
Deutsche Bank Securities Inc. is serving as financial advisor to the Company, and Paul, Weiss, Rifkind, Wharton & Garrison LLP and Young Conaway Stargatt & Taylor, LLP are serving as the Company's legal advisors.
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