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Theme park operator Cedar Fair knocks back USD4 billion Six Flags offer
Amusement park operator Cedar Fair has reportedly rejected a big money offer from rival Six Flags Entertainment.
Reuters reports Six Flags offered $4 billion in cash and stock but the bid was deemed too low.
According to sources, there is no certainty that Six Flags will come back with an improved offer.
Six Flags had apparently offered to acquire Cedar Fair for about $70 per share.
Cedar Fair executives were offered the additional lure of senior positions at Six Flags as current Six Flags CEO James Reid-Anderson is retiring in early 2020, but this hasn’t sweetened the deal enough for Cedar Fair to accept.
Overall reaction to a possible merger has been met with scepticism from loyal Cedar Fair customers, fearful a newly expanded theme park giant would inevitably raise ticket prices.
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