Apollo may struggle with acquisition of Great Wolf, as competing bids come in

Posted Friday, April 6, 2012 10:01 AM | Contributed by Jeff

Despite its best efforts, Apollo Global Management may find itself once again in a battle to acquire an amusement park company. On Wednesday, Great Wolf Resorts, the lodging and waterpark operator, announced that KSL Capital Partners had submitted a proposal to acquire Great Wolf for $6.25 a share in cash. Apollo reached an agreement on March 12 to acquire Great Wolf for $5 a share in cash in a deal valued at $703 million.

Read more from The New York Times.

Sunday, April 8, 2012 6:46 PM

Per the Detroit news - its up to 7 a share - I think Apollo needs to put up or shut up...

http://www.detroitnews.com/article/20120408/BIZ/204080337/1361/Bid-...-per-share

+0
Sunday, April 8, 2012 7:42 PM

Would be nice of Apollo would tell me the next company they seek to buy. I will buy a ton of it and make a killing.

+0
Sunday, April 8, 2012 7:51 PM

Do they get another large chunk of change if the deal falls through?

+0
Monday, April 9, 2012 12:44 AM

Yes, according to the NY Times article "Great Wolf must pay a $5.3 million termination fee to Apollo and reimburse Apollo for up to $1.7 million in expenses."

+0
Monday, April 9, 2012 3:02 AM

Isn't 5.3 million the same fee CF had to pay when the deal fell through? Sounds like a successful venture, trying to buy up various companies and getting a nice payday when the deal falls apart.

+0
Monday, April 9, 2012 9:05 AM

Breakup fees are pretty common in those types of transactions. Its up to management to push back if its not warranted/too high (and not accept the deal if the price is too low or negotiate a higher price).

+0
Wednesday, April 11, 2012 3:40 PM

I'm not struggling at all.

+0
Wednesday, April 11, 2012 3:50 PM

Not after those breakup fees, you're not.

+0
Wednesday, April 11, 2012 3:55 PM

Apollo upped its bid, didn't it?

+0

You must be logged in to post

POP Forums - ©2018, POP World Media, LLC
Loading...