When a company offers up a substantial sum to buy another business and that business accepts the offer, it seems like it should be a done deal, right? Well, not if you're Great Wolf Lodge and not if the latest offer is much sweeter than the one you previously accepted.
Excerpt: Based on Great Wolf’s 32.91 million outstanding shares, KSL’s bid is now worth about $230.4 million.
The offer also tops a bid by Apollo Global Management of $6.75 per share, or $222.1 million.
Great Wolf’s board has already has accepted Apollo Global’s offer, but said Sunday that it would "consider and evaluate" KSL’s latest offer.
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Source: Traverse City Record-Eagle
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