Wachtell Guides Sports Co.'s $226M Outdoor Channel Buy

Law360, New York (March 13, 2013, 5:47 PM EDT) -- Kroenke Sports & Entertainment LLC has inked an estimated $226.9 million merger deal for Outdoor Channel Holdings Inc., having outbid original Outdoor Channel suitor InterMedia Outdoors Holdings LLC, according to a Wednesday statement.

Outdoor Channel's board has approved a new definitive merger agreement in which KSE is offering up $8.75 per Outdoor Channel share, which represents a 15.9 percent premium from the company's closing price on March 1, according to a statement. Striking the new deal means Outdoor Channel has to pay an up to $6.5...
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