Great Wolf OKs Apollo's $262M Offer, Halting Bidding War

Law360, New York (April 20, 2012, 2:23 PM EDT) -- Apollo Global Management LLC notched a victory in a back-and-forth bidding war with another private equity firm over Wisconsin-based water park operator Great Wolf Resorts Inc., whose board of directors on Friday approved its $262.2 million proposed buyout plan.

The all-cash deal, subject to undisclosed terms and conditions, would pay Great Wolf shareholders $7.85 per share in exchange for Apollo's acquisition of the company and its debt, the resort company said.

That per-share price is a 171 percent premium on Great Wolf's average closing price in...
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