The bidding war for acquisition of Great Wolf Resort (NASDAQ:WOLF) continues, as private equity firm KSL Corp. ups its bid by 12 percent to $234 million, beating Apollo Global’s (NASDAQ:APO) offer of $225.7 million.
AT&T (NYSE:T) has sold AT&T Advertising Solutions and AT&T Interactive (combined 2011 revenue of $3.3 billion) to Cerebus in return for a 47 percent stake in the new Yellow Pages holdings and $950 million, $700 million of which will be in cash.
Facebook (FB), according to Mark Zuckerberg, is buying Instagram for $1 billion in cash and stock, and comparisons to other acquisitions are showing up in numbers of tweets. One of them recalled that Yahoo bought Flickr seven years ago for a comparably tiny $35 million. Another points out that Instagram is worth $1 billion and is only a year and a half old, and that the New York Times Co. trades with a market cap of $949 million and is 116 years old.
Carl Icahn is in the news, once again taking Amylin (NASDAQ:AMLN) to task. A few days ago Icahn scolded the drug producer for reportedly not accepting Bristol-Myers Squibb’s acquisition offer, and now he threatens to sue Amylin if it doesn’t extend its deadline for nominating members to its board. Further, he promises yet another suit if the company does not give him copies of its books by Wednesday.
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