Cedar Fair L.P. FUN, +5.66% and Six Flags Entertainment Corp. SIX, +5.53% said Thursday they have agreed to a merger of equals valued at about $8 billion including debt. Under the terms of the deal, Cedar Fair unitholders will receive on share of common stock in the new combined company for each unit owned, while Six Flags shareholder will get 0.5800 shares of common stock in the new entity for each share owned. Once the deal closes, Cedar Fair unitholders will own about 51.
“Our merger with Six Flags will bring together two of North America’s iconic amusement park companies to establish a highly diversified footprint and a more robust operating model to enhance park offerings and performance,” said Cedar Fair CEO Richard Zimmerman in a joint statement issued by the companies. The new entity will have a portfolio of 27 amusement parks, 15 water parks and 9 resort properties across 17 states in the U.S., Canada and Mexico.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Six Flags, Cedar Fair near merger: reportJon Swartz is a senior reporter for MarketWatch in San Francisco, covering many of the biggest players in tech, including Netflix, Facebook and Google. Jon has covered technology for more than 20 years, and previously worked for Barron's and USA Today. Follow him on Twitter jswartz.
Source: MarketWatch - 🏆 3. / 97 Read more »
Six Flags, Cedar Fair Near Merger DealAgreement between two of the largest regional-theme-park chains in the U.S. could be unveiled this week
Source: WSJ - 🏆 98. / 63 Read more »
Exclusive: US amusement park operators Cedar Fair, Six Flags in merger talks-sourcesU.S. amusement park operator Cedar Fair LP (FUN.N) is exploring a potential merger with peer Six Flags Entertainment Corp (SIX.N), people familiar with the matter said on Wednesday.
Source: Reuters - 🏆 2. / 97 Read more »
Exclusive-US amusement park operators Cedar Fair, Six Flags in merger talks-sourcesExclusive-US amusement park operators Cedar Fair, Six Flags in merger talks-sources
Source: Investingcom - 🏆 450. / 53 Read more »
Cedar Fair exploring possible merger with Six Flags: ReportThe two companies – long-time rivals in the regional amusement park industry – were most recently linked in 2019, when Six Flags made an unsolicited $4 billion offer for Cedar Fair, which Cedar Fair rejected.
Source: clevelanddotcom - 🏆 301. / 63 Read more »
Theme park giants Six Flags and Cedar Fair are reportedly in merger talksSix Flags and Cedar Fair may soon be merging. A deal could be closed as soon as Thursday, according to media reports citing sources familiar with the...
Source: dallasnews - 🏆 18. / 71 Read more »