Cerberus Pays $94.4M for Silverleaf Resorts

Private equity firm Cerberus Capital Management will pay $94.4 million in cash to buy timeshare operator Silverleaf Resorts, Reuters reported. The firm will pay $2.50 per share for Silverleaf, representing a 75% premium over the company’s closing price Thursday. Cerberus, which has $23 billion under management, has agreed to provide equity financing for the full amount of the deal, Reuters said.

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