08 Oct 2019

USA: Cedar Fair Rejects Takeover Bid from Six Flags

According to Reuters, Cedar Fair has rejected the takeover bid recently made by larger Six Flags Entertainment company (cf. EAP News of 4 Oct 2019) – according to the news agency, the offered company purchase price was around four billion US Dollars (approx. 3.6 billion Euros), payable in cash & company shares (at a price of around 70 US Dollars/63 Euros per share).

In addition, Cedar Fair executives were offered roles in the management of the combined companies; Six Flags CEO Jim Reid-Anderson is planning to retire by the end of February 2020. As Reuters quotes from its own sources, the offer was rejected as too low. (eap)