MADISON, WI-Raising the bar a second time seems to have done the trick for a bid by New York City-based Apollo Global Management to acquire Great Wolf Resorts Inc., based here. Apollo had offered $5 per share for the company, a total of about $700 million with debt included, but a bidding war pushed Apollo to now offer $7.85 per share, forcing out opposing bidder KSL Capital Partners.

The Denver-based KSL, a competing resort company, said late Friday that it will not submit a higher bid than Apollo’s offer. The Great Wolf board of directors has unanimously approved the takeover, and has recommended that shareholders do the same.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.