That's A Lot of Tokens! $1.3 Billion Pending Purchase of Chuck E. Cheese's Parent Company CEC

, Texas Lawyer

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A team from Weil, Gotshal & Manges led by Dallas corporate partner D. Gilbert Friedlander represents Irving-based CEC Entertainment in its pending purchase by an affiliate of Apollo Global Management for about $1.3 billion.

Apollo is using lawyers from Wachtell, Lipton, Rosen & Katz and Paul, Weiss, Rifkind, Wharton & Garrison.

On Jan. 16, an affiliate of Apollo and its consolidated subsidiaries and CEC Entertainment announced a definitive merger agreement calling for Apollo to acquire CEC for about $1.3 billion, including assumed debt. Through a tender offer, Apollo will pay $54 in cash per share of CEC stock under terms of the transaction.

The transaction is conditioned, in part, upon federal antitrust approval, customary closing conditions, and satisfaction of a minimum tender condition of more than 50 percent of CEC's common shares of stock.

CEC is the parent of Chuck E. Cheese's, which provides family entertainment.

Jay Young, senior vice president and general counsel at CEC, is working on the deal with David Deck, deputy general counsel.

Besides Friedlander, the Weil Gotshal team includes corporate partner Raymond Gietz of New York City and Dallas associates Jennifer Seymour, Ryan Gorsche, Dilen Kumar and Colby McKenzie; finance partner Courtney Marcus and associate Benton Lewis, both of Dallas; tax partner Jared Rusman and associate Mark Dundon, both of Dallas, and associate Daniel Birnhak of New York; corporate governance partner P.J. Himelfarb of Dallas; capital markets partner Heather Emmel of New York; employee benefits partner Michael Kam of New York; environmental partner Annemargaret Connolly and associate Thomas Goslin, both of Washington, D.C.; technology and IP transactions partner Karen Ballack of the Silicon Valley and associate Janell Wise of New York;, and antitrust partner Laura Wilkinson and counsel Vadim Brusser, both of Washington, D.C.

The Wachtell lawyers in New York for Apollo include corporate partners Steven Cohen and Ronald Chen and associates Oliver Board and Tsz Hin Kwok.

Also for Apollo, the Paul Weiss lawyers in New York are corporate partners Gregory Ezring and Mark Wlazlo, real estate partner Peter Fisch and corporate associates Catherine Goodall and Xuan "Sophia" Gui.

 

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