Cedar Fair and Six Flags Entertainment Corporation are merging, the companies announced Thursday. The $8 billion deal will create a "leading amusement park operator in the highly competitive leisure space with an expanded and diversified footprint, a more robust operating model and a strong revenue and cash flow generation profile," the companies said.
The companies say over the last year they "collectively entertained 48 million guests." Once the merger transaction closes, the newly formed board of directors will consist of 12 directors, six from Cedar Fair's previous board and six from Six Flag's previous board. The company will operate under the name Six Flags and trade under the ticker symbol FUN on the New York Stock Exchange. Although the combined company will be headquartered in Charlotte, North Carolina, "significant finance and administrative operations" will be in Sandusky, Ohio. The merger is expected to close in the first half of 2024, following "receipt of Six Flags shareholder approval, regulatory approvals and satisfaction of customary closing conditions.
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