In a monumental move within the amusement park industry, Cedar Fair and Six Flags Entertainment Corporation have officially declared their merger, an $8 billion deal that promises to reshape the landscape of leisure and entertainment. The merger, unanimously approved by both companies’ boards of directors, will form a leading amusement park operator with an extensive and diversified footprint, a fortified operating model, and a robust revenue and cash flow generation profile.

H2: The Deal in Detail

Under the terms of the merger, Cedar Fair stockholders will receive one share in the new combined company for each unit owned, while Six Flags shareholders will be granted 0.5800 shares of common stock in the newly formed entity for each share owned. Upon the completion of the transaction, Cedar Fair unit holders will possess approximately 51.2% of the merged company, while Six Flags shareholders will hold approximately 48.8%.

H2: Vision for the Future

Richard Zimmerman, the president and CEO of Cedar Fair, expressed enthusiasm about the merger, stating, “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.” He emphasized the creation of a powerhouse with a strengthened operational framework, ensuring enhanced offerings for park visitors.

Selim Bassoul, president and CEO of Six Flags, echoed this sentiment, highlighting the cultural alignment, operational philosophy, and commitment to providing thrilling experiences shared by both companies. “By combining our operational models and technology platforms, we expect to accelerate our transformation activities and unlock new potential for our parks,” Bassoul stated, underlining the collaborative vision for the future.

H2: Industry Dominance and Footprint

Cedar Fair, headquartered in Sandusky, Ohio, presently operates 11 amusement parks in various states, including Ohio, California, North Carolina, and Texas, as well as in Ontario, Canada. On the other hand, Six Flags Entertainment Corporation boasts the title of the “world’s largest regional theme park company,” with an impressive 27 parks across the United States, Mexico, and Canada. The merger will amalgamate the strengths of these industry giants, consolidating their influence over the leisure and entertainment sector.

H2: Merger Logistics and Timeline

Upon the merger’s completion, the newly formed board of directors will consist of 12 members, evenly split between Cedar Fair’s previous board and Six Flag’s previous board. The merged company will bear the name “Six Flags” and will trade under the ticker symbol “FUN” on the New York Stock Exchange. While headquartered in Charlotte, North Carolina, the company will maintain significant finance and administrative operations in Sandusky, Ohio.

The merger is anticipated to conclude in the first half of 2024, pending Six Flags shareholder approval, regulatory clearances, and the fulfillment of customary closing conditions. This transformative merger signals a new era for the amusement park industry, promising innovative experiences and enhanced offerings for millions of visitors across North America.

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