“We look forward to partnering with CEC’s exceptional management team, talented employees and franchise partners to support the continued growth of the Company," said Lance Milken, Partner at Apollo Global Management.The transaction will be implemented through a cash tender offer at $54.00 per share. The transaction is conditioned upon, among other things, satisfaction of the minimum tender condition of more than 50 percent of the Company's common shares, the receipt of the Federal Trade Commission's approval under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976, and other customary closing conditions. Under the terms of the agreement, the Company may solicit superior proposals from limited third parties until January 29, 2014. There can be no assurances that this process will result in a superior proposal, and the Company does not intend to discuss any developments with regard to this process unless the Company's Board of Directors makes a decision with respect to a potential superior proposal.
CEC Entertainment, Inc. Agrees To Be Acquired By An Affiliate Of Apollo Global Management For $54.00 Per Share In Cash
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