Silverleaf Resorts (SVLF) Completes Merger With Resort Merger Sub, an Affiliate of Cerberus

Silverleaf Resorts, Inc. (NASDAQ: SVLF) announced the completion of its merger with Resort Merger Sub Inc., an affiliate of Cerberus Capital Management, L.P.

Under the terms of the merger agreement, Silverleaf shareholders will receive $2.50 in cash for each share of Silverleaf common stock they own, representing a premium of approximately 75% based on the closing trading price of $1.43 of Silverleaf common stock on February 3, 2011, the date on which the merger agreement was executed. As a result of the closing of the merger, Silverleaf is now a private company, wholly-owned by affiliates of Cerberus, and its common stock will cease to trade on NASDAQ at market close today. The merger was approved by Silverleaf’s shareholders on May 11, 2011.

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