Apollo Global To Acquire Chuck E Cheese Parent For $950 Million

Apollo Global Management LLC will buy CEC Entertainment Inc., the parent of Check E. Cheese’s stores for about $950 million.

Leon Black’s Apollo Global Management will pay $54 per share for CEC, representing a premium of 11.5% to the stock’s Wednesday closing.

Apollo Deal includes go-shop period

The global alternative asset manager, Apollo Global Management LLC said the deal would follow a review by CEC’s board of the company’s option. The deal is worth about $1.3 billion, including the assumption of debt.

CEC’s stock rose sharply last week after Reuters reported that CEC was exploring a potential sale to...