Apollo (APO) Increases Bid for Great Wolf (WOLF) to $7/Share

April 18, 2012 5:27 PM EDT Send to a Friend
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On April 18, 2012, Great Wolf Resorts, Inc., a Delaware corporation (Nasdaq: WOLF), entered into a Second Amendment to that certain Agreement and Plan of Merger, dated as of March 12, 2012, by and among the Company, Apollo's (NYSE: APO) K-9 Acquisition, Inc. and K-9 Holdings, Inc., as amended by the First Amendment to the Agreement and Plan of Merger, dated as of April 6, 2012.

Under the terms of the Merger Agreement, on March 13, 2012, Offeror commenced a tender offer (the “Offer”) to purchase all of the Company’s outstanding shares of common stock, par value $0.01 per share (the “Common Shares”). Under the Second Merger Agreement Amendment, (i) the Offer Price (as defined in the Merger Agreement) was increased from $6.75 per Common Share to $7.00 per Common Share and (ii) the amount of the Company Termination Fee (as defined in the Merger Agreement) was increased (a) in certain circumstances, from $6,700,000 plus reimbursement of certain expenses up to $2,300,000, to $6,948,000 plus reimbursement of certain expenses up to $2,385,000 and (b) in certain other circumstances, from reimbursement of certain expenses up to $2,300,000, to reimbursement of certain expenses up to $2,385,000.


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