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Theme park stocks jump on report indicating SeaWorld and Cedar Fair are in M&A talks

Feb. 01, 2022 11:19 AM ETSix Flags Entertainment Corporation (SIX), FUN, SEASBy: Clark Schultz, SA News Editor12 Comments

Roller coaster in the amusement park with the sunset background.

ekkawit998/iStock via Getty Images

  • Theme park stocks went for a roller coaster ride in morning trading on a report that SeaWorld Entertainment (SEAS -1.6%) made a $3.4B takeover offer for Cedar Fair (FUN +10.8%).
  • Bloomberg reports the bid for

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Comments (12)

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Newb question how do SEAS have money for a 3.4B offer? Their asset in total as of last quarter is ~2.5B with 430M in cash.
@barginhunter issue shares and debt
PapaWhisky profile picture
$FUN resumed at $55.50

"Cedar Fair confirmed in a statement that it had received and was reviewing an “unsolicited, non-binding” proposal from SeaWorld."
coaster kid 13 profile picture
Six Flags tried this not long ago, and even offered more per share, and it was rejected by FUN. I own Cedar Fair (and Cedar Point is my home park), and if FUN were acquiring some of SEAS key assets, or brand, that'd be one thing - but I do not trust SEAS management. I also prefer FUN's dividend and tax advantages.

I expect this will be rejected.
MWhistler profile picture
No, just no.
01 Feb. 2022
This combination is not compelling.
Wouldn’t that trigger some surprise taxes on unit holders?
@blasted that is my question to. I’ve been a long time shareholder of FUN and wonder about mlp/ tax situation.
patfactorx profile picture
We are long time Seaworld pass members. Excited to see them be more well capitalized.
Also it's been a while since I looked at the bylaws for this MLP; however, a takeover requires some super majority vote. It was either 67% or 80%. Buying out Cedar Fair is not your typical play. As far as a merger, I'm not a fan of SeaWorld's management so I'll be a no vote.
Ew, SeaWorld is a f---ing disasster. And $60 per share is way too low.
coaster kid 13 profile picture
@Jeff1911 if I recall, when Six Flags pulled this about 2 years ago, they offered a larger sum per-share and it was still rejected. I expect the same for this.
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