Cedar Fair and Six Flags agree to $8 billion merger of equals

Cedar Fair L.P. and Six Flags Entertainment Corp. said Thursday they have agreed to a merger of equals valued at about $8 billion including debt, confirming a report Wednesday by the Wall Street Journal.

The new entity will have a portfolio of 27 amusement parks, 15 water parks and nine resort properties across 17 states in the United States, Canada and Mexico. “Cedar Fair’s heavy exposure in the Midwest and California diversify the overall footprint,” they wrote. The companies are also committed to allocating capital to reward shareholders once the combined company achieves its targeted net-leverage ratio, the statement said.

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