Great Wolf Resorts Receives $7.00 Per Share Acquisition Proposal From KSL Capital Partners
April 08 2012 - 4:46PM
Business Wire
Great Wolf Resorts, Inc. (NASDAQ: WOLF) today announced that it
has received an unsolicited letter from KSL Capital Partners
proposing to acquire Great Wolf for $7.00 per share in cash,
subject to certain conditions, including due diligence and certain
conditions related to debt waivers.
Great Wolf’s Board of Directors, consistent with its fiduciary
duties and in consultation with its independent financial and legal
advisors, will consider and evaluate this new proposal from KSL
Capital Partners, and will pursue the course of action that it
determines is in the best interests of Great Wolf and its
stockholders. Great Wolf will have no further comment on this
matter at this time.
Deutsche Bank Securities Inc. is serving as financial advisor to
the Company, and Paul, Weiss, Rifkind, Wharton & Garrison LLP
and Young Conaway Stargatt & Taylor, LLP are serving as the
Company’s legal advisors.
About Great Wolf Resorts, Inc.
Great Wolf Resorts, Inc.® (NASDAQ: WOLF), Madison, Wis., is
North America’s largest family of indoor waterpark resorts, and,
through its subsidiaries and affiliates, owns and operates its
family resorts under the Great Wolf Lodge® brand. Great Wolf
Resorts is a fully integrated resort company with Great Wolf Lodge
locations in: Wisconsin Dells, Wis.; Sandusky, Ohio; Traverse City,
Mich.; Kansas City, Kan.; Williamsburg, Va.; the Pocono Mountains,
Pa.; Niagara Falls, Ontario; Mason, Ohio; Grapevine, Texas; Grand
Mound, Wash.; and Concord, N.C. Great Wolf’s consolidated
subsidiary, Creative Kingdoms, LLC, is a developer and operator of
technology-based, interactive quest adventure experiences such as
MagiQuest®. Additional information may be found on Great Wolf’s
website at http://www.greatwolf.com.
Forward-Looking Statements
Statements herein regarding future financial and operating
results and any other statements about future expectations, and the
intent of any parties about future actions, constitute
“forward-looking statements” as defined in the federal securities
laws. Forward-looking statements may be identified by words such as
“believe,” “expects,” “anticipates,” “projects,” “intends,”
“should,” “estimates” or similar expressions. Such statements are
based upon current beliefs, expectations and assumptions and are
subject to significant risks and uncertainties. There are a number
of important factors that could cause actual results or events to
differ materially from those indicated by such forward-looking
statements. Great Wolf believes these forward-looking statements
are reasonable; however, undue reliance should not be placed on any
forward-looking statements, which are based on current
expectations. All written and oral forward-looking statements
attributable to Great Wolf or persons acting on Great Wolf’s behalf
are qualified in their entirety by these cautionary statements.
Further, forward-looking statements speak only as of the date they
are made, and Great Wolf undertakes no obligation to update or
revise forward-looking statements to reflect changed assumptions,
the occurrence of unanticipated events or changes to future
operating results over time unless required by law. Past financial
or operating performance is not necessarily a reliable indicator of
future performance and you should not use our historical
performance to anticipate results or future period trends.
Additional factors that may affect future results are contained
in Great Wolf’s filings with the Securities and Exchange Commission
(the “SEC”), including its Annual Report on Form 10-K for the year
ended December 31, 2011, which are available at the SEC’s Web site
http://www.sec.gov. The information set forth herein speaks only as
of the date hereof, and any intention or obligation to update any
forward-looking statements as a result of developments occurring
after the date hereof is hereby disclaimed unless required by
law.
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