KSL Tops Apollo With $234M Bid In Great Wolf Bidding War

Law360, New York (April 9, 2012, 1:48 PM EDT) -- Private equity firm KSL Capital Partners LLC on Sunday upped its offer for Great Wolf Resorts Inc. to $234 million, again trying to top Apollo Global Management in a three-week bidding war for North America's largest indoor water park operator.

Great Wolf said it had received an unsolicited $7-per-share cash offer from KSL. The offer came on the heels of a $6.75-per-share bid from Apollo, which was unanimously recommended by Great Wolf's board.

The two buyout firms have been competing for the business since mid-March. The...
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