Apollo Puts Up $1.3B For Chuck E. Cheese's Owner

Law360, New York (January 16, 2014, 1:24 PM EST) -- Chuck E. Cheese's is changing hands to the tune of a $1.3 billion deal in which an Apollo Global Management LLC affiliate will buy the mouse-mascoted restaurant chain's owner, CEC Entertainment Inc., the companies said Thursday.

The identity of the Apollo affiliate was not immediately clear. The deal nets Apollo all of the Texas-based company's 577 Chuck E. Cheese's restaurants at a price of $54 per share — which represents a premium of about 25 percent over CEC's closing share price on Jan. 7, the last...
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