Ticker	Volume	Price	Price Delta
DJIA	15,303.10	+8.60	0.06%
S&P 500	1,649.60	-0.91	-0.06%
Nasdaq	3,459.14	-0.27	-0.01%

Ticker

Volume

Price

Price Delta

DJIA

15,303.10

+8.60

0.06%

S&P 500

1,649.60

-0.91

-0.06%

Nasdaq

3,459.14

-0.27

-0.01%

Ticker	Volume	Price	Price Delta
STOXX 50	2,764.29	-12.49	-0.45%
FTSE 100	6,654.34	-42.45	-0.63%
DAX	8,305.32	-46.66	-0.56%

Ticker

Volume

Price

Price Delta

STOXX 50

2,764.29

-12.49

-0.45%

FTSE 100

6,654.34

-42.45

-0.63%

DAX

8,305.32

-46.66

-0.56%

Ticker	Volume	Price	Price Delta
Nikkei	14,612.50	+128.47	0.89%
Hang Seng	22,618.70	-51.01	-0.23%
S&P/ASX 200	4,983.50	-78.95	-1.56%

Ticker

Volume

Price

Price Delta

Nikkei

14,612.50

+128.47

0.89%

Hang Seng

22,618.70

-51.01

-0.23%

S&P/ASX 200

4,983.50

-78.95

-1.56%

Apollo, Great Wolf Agree on Sweetened $6.75-Share Offer

By Dan Hart - 2012-04-07T21:10:47Z

Apollo Global Management LLC (APO) boosted its takeover of Great Wolf Resorts Inc. (WOLF) to $6.75 per share in cash, or $225.6 million, an offer that was approved unanimously by Great Wolf’s board.

Apollo Global also will assume $570 million in debt and $34 million in cash on the resort operator’s books, said Carrie Bloom, an outside spokeswoman for Great Wolf at Sard Verbinnen & Co., today.

With the sweetened offer, Great Wolf said it will no longer consider an unsolicited $6.25 per-share bid made by KSL Capital Partners LLC. Great Wolf owns, manages and licenses 11 resorts which cater to families and feature indoor water parks, suite- style rooms, restaurants, spas and arcades.

Phone calls and e-mails to KSL Capital by Bloomberg News today weren’t returned.

Holders have until April 20 at midnight to tender their shares, Great Wolf and Apollo Global (APOL) said yesterday in a statement. Great Wolf also agreed to boost its termination fee to $9 million from $7 million, the statement said.

Apollo Global made an earlier bid for Great Wolf on March 13, offering $5 a share, about a 19 percent premium from the company’s closing stock price the day before. On March 15, the company was sued by investors who said the $703 million offer, which included debt, undervalued the company.

Midwestern Roots

Denver-based KSL Capital made its offer on April 4.

The Madison, Wisconsin-based Great Wolf opened its first lodge in Wisconsin Dells, Wisconsin, in 1997. The chain has expanded into eight other U.S. states and Canada since then. New York-based private-equity firm Apollo Global went public last year.

Shares of Great Wolf rose 88 cents to $6.58 in Nasdaq trading on April 5. The stock has more than doubled year to date. Apollo Global rose 22 cents to $14.35 on April 5. The stock is up 16 percent year to date.

To contact the reporter on this story: Dan Hart in Washington at dahart@bloomberg.net.

To contact the editor responsible for this story: Sylvia Wier at swier@bloomberg.net.

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