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Silverleaf Resorts, Inc.
SVLF announced today the completion of its merger with Resort Merger Sub Inc., an affiliate of Cerberus Capital Management, L.P.
Under the terms of the merger agreement, Silverleaf shareholders will receive $2.50 in cash for each share of Silverleaf common stock they own, representing a premium of approximately 75% based on the closing trading price of $1.43 of Silverleaf common stock on February 3, 2011, the date on which the merger agreement was executed.
As a result of the closing of the merger, Silverleaf is now a private company, wholly-owned by affiliates of Cerberus, and its common stock will cease to trade on NASDAQ at market close today. The merger was approved by Silverleaf's shareholders on May 11, 2011.
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