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Great Wolf Resorts Signs Merger Agreement for $703 Million
Practices
As reported in The Deal Pipeline today, Paul, Weiss client Great Wolf Resorts, Inc., North America's largest family of indoor waterpark resorts, entered into a definitive merger agreement to be acquired by an affiliate of Apollo Global Management, LLC for approximately $703 million, including the assumption of the company's outstanding debt.
Through a cash tender offer that is expected to commence today, Apollo will make an offer to purchase all outstanding shares of Great Wolf common stock for $5.00 per share. This offer represents a premium of 72.9 percent over the six-month average of Great Wolf's share price ending on March 12, 2012, a premium of 50.4 percent over the ninety-day average of Great Wolf's share price ending on March 12, 2012, and a 19.3 percent premium over Great Wolf's closing stock price on March 12, 2012.
The Paul, Weiss team included, among others, corporate partners Jeffrey D. Marell and Kelley D. Parker and counsel Ross A. Fieldston and Didier Malaquin; employee benefits partner Robert C. Fleder and counsel Erin Murphy; tax partner Jeffrey B. Samuels; environmental counsel William J. O'Brien; and real estate partner Mitchell L. Berg and counsel Andrew S. Wurzburger.