With interest rates so low and banks becoming more willing to lend money to corporations at least, I'd expect to see more deals like this recent acquisition of Great Wolf Resorts (NASDAQ:WOLF) by Apollo Global Management (NYSE:APO). I'd expect Apollo to cut the company's SG&A expenses which seem a bit high, and to milk the cash flows. From 2005-2008 WOLF invested over $500MM in PP&E and during those same few years the company's debt load more than doubled. I'd expect Apollo to cut fat on the expense side, and to potentially attempt to refinance debt at cheaper levels.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.