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(News) Apollo Global Management and Great Wolf Resorts, Inc. announced that they have extended the previously announced cash tender offer for all outstanding Great Wolf shares for a period of 10 business days. Apollo is extending the expiration of the Offer until 9:00 a.m., New York City time, on April 20, 2012, unless further extended or earlier terminated.  Apollo also added that it has extended the previously announced change of control offer for all of the outstanding 10.875% First Mortgage Notes due 2017 so that the change of control offer will expire simultaneously with the offer.

However, in the meantime a new buyer has surfaced.  In a statement made to the investment community KSL Capital Partners LLC, a U.S. private equity firm dedicated to investments in travel and leisure businesses, has offered US$6.25 per share in cash versus Apollo's US$5.00.  The deal is expected to be valued at just over US$700 million. Great Wolf stated that it will look into the KSL offer.

Multiple law firms in the US have recently announced they will investigate and, if needed, take legal action against the Board of Directors of Great Wolf Resorts after it announced the company's acquisition by an affiliate of Apollo Global Management. Cases are still pending.