Theme park operators Six Flags, Cedar Fair combine in 'merger of equals'

The combined company will be valued at $8 billion and include 27 amusement parks, 15 water parks and nine resort properties across 17 states in the U.S., Canada, and Mexico.The deal, announced Thursday before the trading markets opened, surfaced publicly a day earlier as nearing completion. The companies describe it as a “merger of equals.”When the transaction closes, shareholders of Ohio-based Cedar Fair will own about 51.2% of the new company’s stock while Six Flags shareholders will hold 48.

Its portfolio will include 42 amusement parks and waterparks and nine resort properties across 17 states in the U.S., Canada, and Mexico. Marquee parks include Six Flags Over Texas in Arlington and Six Flags Fiesta in San Antonio as well as Cedar Point in Sandusky, Ohio, and Knott’s Berry Farm in California.Zimmerman said the merger will allow the company to speed up investments in the parks, which compete against the likes of Disney and Universal in the competitive leisure entertainment space.

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