By Kevin McCauley
Sard Verbinnen & Co. and ICR are handling the bidding war for Great Wolf Resorts, the nation’s No. 1 operator of indoor water parks.
The Madison, Wis.-based company plans to terminate a $6.75 a-share bid that it received in March from Apollo General Management by midnight tomorrow unless it gets an offer to top the $7 a-share bid from KSL Capital Partners.
Apollo’s K-9 Acquisition arm would receive a $9M termination fee if Great Wolf rejects its offer. The KSL offer expires April 19. Great Wolf is telling shareholders there’s no assurance that the KSL transaction will be successful.
Great Wolf stock is currently trading at $7.33, a 52-week high. The NASDAQ listed shares traded as low as $2.04 during the past year.
SV&C’s George Sard, David Reno and Carrie Bloom are handling media inquiries about the takeover battle, while ICR’s Brad Cohen works the investor beat. |