The big theme park merger is a step closer.
Shareholders of Six Flags Entertainment voted yes to merge with amusement park company Cedar Fair.
Cedar Fair owns major theme parks nationwide including Carowinds, Cedar Point, and Kings Dominion.
Cedar Fair will have a majority holding in the merger so isn’t required to put the offer to a shareholder vote.
Under the current terms, Cedar Fair unitholders will own 51.2%, while Six Flags would own the remaining 48.8%.
However, it is not a done deal just yet.
The Department of Justice is monitoring the theme park merger and has requested additional information from both companies.
The tie-up is valued at about $8 billion.
Pending regulatory approval, the companies hope to finalize the deal by mid-2024.
