Cedar Fair merging with Six Flags

Sandusky-based Cedar Fair Entertainment, the owner of Cedar Point and several other amusement parks in North America, has announced that it has struck a deal to merge with Six Flags.
The merger agreement was unanimously approved by the Board of Directors for both companies.
“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,” said Richard Zimmerman, President and Chief Executive Officer of Cedar Fair. “Together, we will have an expanded and complementary portfolio of attractive assets and intellectual property to deliver engaging entertainment experiences for guests. The combination also creates an enhanced financial profile with strong cash flow generation to accelerate investments in our parks to delight our guests, driving increased levels of demand and in-park value and spending. I have great respect for the Six Flags team and look forward to joining forces as we embark on this next chapter together.”
Additionally, the combined company will reportedly retain Six Flags as its corporate name and trade under Cedar Fair’s ticker, FUN.
The combined company will be valued at roughly $8 billion, based on Cedar Fair and Six Flags' debt and equity values as of Oct. 31. Six Flags shareholders will receive 0.58 shares of common stock in the new company, while Cedar Fair unit holders will receive one share for each unit they own.
Shares of both Cedar Fair and Six Flags rose Wednesday afternoon after Reuters and The Wall Street Journal first reported the possible merger. Cedar Fair has a market value of $1.8 billion, while Six Flags is at $1.7 billion, per Reuters.
Emma Henderson reports: www.wkyc.com/a... --
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[@LizaStanton-ff5pu]

"The park's not going to go anywhere." Right. Just ask the residents of Aurora, Ohio what happened to Geauga Lake after 6 flags and cedarfair got their hands on that gorgeous old park. Don't hold your breath, Sandusky.

[@waddles6139]

i think this might mean the closure to smaller parks like michigan but cedar point going would literally lead to the fall of the new company