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CEC Entertainment Acquired by Apollo Global, Shares Jump 12%

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Shares of CEC Entertainment, Inc. (NYSE:CEC), the parent company of the children’s themed restaurant chain Chuck E. Cheese are trading higher today  as a result of a being acquired by the Apollo Global Management LLC (NYSE:APO). Apollo will pay a premium of 12 percent to acquire CEC Entertainment at $54 per share. The total acquisition is value at $948 million. Just a couple of weeks ago, CEC Entertainment were exploring strategic options to sale Chuck E. Cheese.