Apollo Pays $703M For Water Park Owner

Law360, New York (March 13, 2012, 2:03 PM EDT) -- New York private equity giant Apollo Global Management LLC has acquired Wisconsin water park property owner and manager Great Wolf Resorts Inc. for more than $700 million, the companies said Tuesday.

Apollo said it had acquired Madison, Wis.-based Great Wolf, which owns 11 water parks in the Midwest and Ontario, Canada, for $703 million.

The transaction values Great Wolf's stock at $5 per share. The price is a 19.3 percent premium over Great Wolf's closing price of $4.19 on the NASDAQ stock exchange Monday.

The transaction...
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