Private Equity Firms Start Bid Fight Over Great Wolf

Law360, New York (April 5, 2012, 1:32 PM EDT) -- An Apollo Global Management LLC unit on Thursday extended a deadline for water park operator Great Wolf Resorts Inc. shareholders to accept its takeover offer after private equity firm KSL Capital Partners LLC snuck in with a $203.5 million offer on Wednesday.

KSL's offer values Great Wolf's stock at $6.25 per share, which is higher than Apollo's $5-per-share bid, but does not seem to include Apollo's offer to take on about $567.1 million in debt, according to a statement released by Great Wolf. The Madison, Wis.-based...
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