Six Flags, Cedar Fair announce $8B merger to create top theme park operator
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Cedar Fair and Six Flags Entertainment Corporation are merging, the companies announced Thursday.
The $8 billion deal will create a «leading amusement park operator in the highly competitive leisure space with an expanded and diversified footprint, a more robust operating model and a strong revenue and cash flow generation profile,» the companies said.
Terms of the merger unanimously approved by the boards of directors for both companies include Cedar Fair stockholders getting one share in the new combined company for each unit owned, while Six Flags shareholders will receive 0.5800 shares of common stock in the new combined company for each share owned.
Once the transaction closes, Cedar Fair unit holders will own approximately 51.2% and Six Flags shareholders will own approximately 48.8%.
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People ride the new Wonder Woman Flight of Courage roller coaster during a press preview of it at Six Flags Magic Mountain in Valencia, California, Thursday, July 14, 2022. (Hans Gutknecht/MediaNews Group/Los Angeles Daily News via Getty Images / Getty Images)
«Our merger with Six Flags will bring together two of North America’s iconic amusement park companies to establish a highly diversified footprint and a more robust operating model to enhance park offerings and performance,» Richard Zimmerman, president and CEO of Cedar Fair, said.
Cedar Fair, headquartered in Sandusky, Ohio, operates 11 amusement parks in Ohio, California, North Carolina, South Carolina, Virginia, Pennsylvania, Minnesota, Missouri, Michigan, Texas and Ontario.
«Six Flags and Cedar Fair share a strong cultural alignment,
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