Great Wolf (Nasdaq: WOLF) Gets Offer from KSL, Topping Apollo’s (NYSE: APO) Bid

Orlando, FL 4/5/12 (StreetBeat) -- Great Wolf Resorts Inc. (Nasdaq: WOLF), which runs 11 resorts with water slides and pools in the U.S. and Canada, said it has received an offer from KSL Capital Partners LLC, topping a proposed buyout by Apollo Global Management LLC. (NYSE: APO).

KSL Capital is offering to acquire the company for $6.25 per share in cash, Great Wolf said in a statement yesterday. The price is a 9.6 percent premium to the closing price of $5.70 yesterday. The Madison, Wisconsin-based company will consider and evaluate the proposal and has no further comments, it said.

Great Wolf was sued by shareholders following the March 13 bid by New York-based Apollo, which offered $5 a share in a deal valued at $703 million, including the assumption of Great Wolf’s debt. The lawsuits claimed Great Wolf didn’t obtain the highest possible offer, saying its own financial adviser, Deutsche Bank Securities Inc., valued it between $3.74 and $7.98 a share.

In its deal with Apollo, run by Chief Executive Officer Leon Black, Great Wolf was required to adopt a shareholders’ rights plan to thwart hostile acquirers and agreed not to solicit other interested parties. It will also pay the buyout firm $5.3 million, and as much as $1.7 million in Apollo’s expenses, if the company accepts a superior offer.

The company owns, manages and licenses family resorts featuring indoor water parks, suite-style rooms, restaurants, spas and arcades. The company started its first Great Wolf Lodge in Wisconsin Dells, Wisconsin, in 1997, and the chain has expanded into eight other U.S. states and Canada.

The company had more than $143 million in cumulative federal tax losses as of Dec. 31, which equate to $1.62 a share of potential future tax benefits.

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NASDAQ Stock Alert: Great Wolf Resorts (NASDAQ: WOLF) Soars on Acquisition News

Orlando, FL 3/14/12 (StreetBeat) -- www.InvestorIdeas.com, a global investor research portal for independent investors, reports on one of the top NASDAQ percentage gainers in yesterday’s trading session, Great Wolf Resorts, Inc. (NASDAQ: WOLF). The stock was trading up at $5.23, up 1.04(24.82%) 1:33PM EDT on over 8.6 Million shares. The stock soared on acquisition news and closed at $5.32.

An affiliate of Apollo Global Management, LLC (NYSE: APO) and Great Wolf Resorts, Inc. (NASDAQ: WOLF) announced that they have entered into a definitive merger agreement with Apollo will acquiring Great Wolf, North America’s largest family of indoor waterpark resorts, for approximately $703 million, including the assumption of the Company’s outstanding debt.

The news was followed by the usual flow of press releases by law firms questioning the deal.

Great Wolf Resorts, Inc. ® (NASDAQ: WOLF )is North America’s largest family of indoor waterpark resorts, and, through its subsidiaries and affiliates, owns and operates its family resorts under the Great Wolf Lodge® brand. Great Wolf Resorts is a fully integrated resort company with Great Wolf Lodge locations in: Wisconsin Dells, Wis.; Sandusky, Ohio; Traverse City, Mich.; Kansas City, Kan.; Williamsburg, Va.; the Pocono Mountains, Pa.; Niagara Falls, Ontario; Mason, Ohio; Grapevine, Texas; Grand Mound, Wash.; and Concord, N.C. Great Wolf’s consolidated subsidiary, Creative Kingdoms, LLC, is a developer and operator of technology-based, interactive quest adventure experiences such as MagiQuest®. http://www.greatwolf.com

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