CEC Entertainment to Be Acquired by Affiliate of Apollo Global Management for $54.00/Share in Cash
An affiliate of Apollo Global Management, LLC (NYSE: APO) (together with
its consolidated subsidiaries, “Apollo”) and CEC Entertainment, Inc.
(NYSE: CEC) (“CEC”) today announced that they have entered into a
definitive merger agreement (the “Merger Agreement”) whereby Apollo, a
leading global alternative investment manager, will acquire CEC, the
nationally recognized leader in family dining and entertainment which
operates 577 Chuck E. Cheese's stores, for approximately $1.3 billion,
including the assumption of the Company's outstanding debt.