Six Flags and Schlitterbahn parent company to finalize $8 billion merger

Tuesday that the merger will be finalized on July 1. The transaction is one of the largest of its kind in decades, resulting in a combined company value of $8 million.The company will operate under the name Six Flags Entertainment Corporation and will be headquartered in Charlotte, North Carolina. That means the Six Flags headquarters will leave Arlington in North Texas.

Richard Zimmerman, president and CEO of Cedar Fair, will serve as president and CEO of the combined company. Selim Bassoul, president and CEO of Six Flags, will serve as executive chairman of the combined company’s Board of Directors. “We are fortunate to have a proven team of leaders who bring decades of park operating experience and significant expertise in integrating businesses and achieving synergy targets for the combined company,” Zimmerman said. “Their insights and complementary skill sets will be instrumental as we combine two of North America’s iconic amusement park companies and forge a new future together.”

The combined portfolio includes 27 amusement parks, 15 water parks and nine resort properties across 17 states in the U.S., Canada and Mexico. Six Flags Fiesta Texas, Schlitterbahn New Braunfels, The Resort at Schlitterbahn and Schlitterbahn Waterpark Galveston fall under their umbrella.It’s unclear if the DOJ approved the finalization, but Tuesday’s news release stated: “The completion of the Mergers is subject to the satisfaction or waiver of a number of conditions set forth in the merger agreement relating to the Mergers, including the satisfaction of regulatory conditions.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cedar Fair sets July 1 merger date with Six Flags, announces new company’s management teamAmong the parks impacted by the merger are Cedar Point and Kings Island in Ohio, both owned by Cedar Fair.
Source: clevelanddotcom - 🏆 301. / 63 Read more »

Six Flags' merger with Cedar Fair to be completed July 1; shares jumpThe new company will operate as Six Flags and be based in Charlotte, N.C. Six Flags now calls Arlington home, while Cedar Fair is in Sandusky, Ohio.
Source: ExpressNews - 🏆 519. / 51 Read more »

Six Flags will move headquarters after Cedar Fair merger closes July 1Six Flags and Cedar Fair will soon be wrapping up its merger on July 1. The new combined company will move Six Flags out of Arlington after four years at its...
Source: dallasnews - 🏆 18. / 71 Read more »