It appears that Apollo’s bid of US$7.85 per share on Friday for ownership of Great Wolf is the winner.
Great Wolf Resorts, Madison, Wisconsin, announced on Friday that KSL Capital Partners, Denver, Colorado, is not be submitting a higher buyout bid than Apollo Global Management, New York City.
The announcement comes after Apollo and KSL spent April bidding against each other to buy out Great Wolf, with the final bid climbing over 50% from Apollo’s initial offer of US$5 per share.
Great Wolf’s board unanimously approved Apollo’s latest offer and recommended shareholders tender their shares by May 4.
Great Wolf, through its subsidiaries and affiliates, owns and operates 11 family resorts in the U.S. and Canada. The first was opened in Wisconsin Dells, Wisconsin, in 1997.