This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Apollo Global Management Announces Successful Completion Of Its Acquisition Of Great Wolf Resorts

An affiliate of Apollo Global Management, LLC (NYSE: APO) (“Apollo”) and Great Wolf Resorts Inc. (NASDAQ: WOLF) (“Great Wolf” or the “Company”), today announced the successful completion of Apollo’s acquisition of Great Wolf, North America’s largest family of indoor waterpark resorts.

Aaron Stone, a Senior Partner at Apollo Global Management, commented, “We are very excited to have completed the acquisition of Great Wolf. Since the beginning of this process, we have been extremely impressed with Great Wolf, including its management team and the exceptional family destination resorts that it operates.”

Scott Ross, a Partner at Apollo Global Management, added, “We believe that Great Wolf will prove to be a strong addition to the Apollo portfolio of investments and we look forward to working with Kim Schaefer and her talented management team to build upon the Company’s distinctive brand and the incomparable experience Great Wolf offers to its millions of customers."

Kim Schaefer, Chief Executive Officer of Great Wolf, said, “All of us at Great Wolf are very excited about partnering with the team at Apollo and what that partnership will mean for our next phase of growth, as well as the benefits it offers to our employees and the communities we serve. Apollo’s proven investment track record and access to capital will facilitate the continued expansion of Great Wolf as a premier family vacation destination.”

About the Acquisition

The acquisition was effected through an equity tender offer followed by a merger. The tender offer, which was made at $7.85 per share pursuant to the definitive merger agreement entered into among affiliates of Apollo and Great Wolf on March 12, 2012, as amended, expired as scheduled at 9:00 a.m., New York City time, on Friday, May 4, 2012. Excluding shares tendered by notice of guaranteed delivery, a total of approximately 24,054,129 shares of common stock, representing approximately 72 percent of the outstanding shares, were tendered into and not withdrawn from the tender offer. If all guaranteed delivery shares are received, approximately 76 percent of the outstanding shares will have been tendered. According to the terms of the equity tender offer, shares that were validly tendered and not withdrawn have been accepted for payment. The parties subsequently completed the acquisition by merging Great Wolf into an affiliate of Apollo after the closing of the top-up option in accordance with the merger agreement. The Company’s shares ceased trading on the NASDAQ Global Market at the close of market on May 4, 2012, and will no longer be listed.

Stock quotes in this article: APO, WOLF 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs