SeaWorld Entertainment Offers To Purchase Cedar Fair For $3.4 Billion

SeaWorld Entertainment Inc. has put in an offer to buy Cedar Fair, another amusement park company, for around $3.4 billion, according to Bloomberg.

What’s Happening:

  • SeaWorld Entertainment Inc, who currently owns and operates 12 different parks around the country, has offered to buy Cedar Fair, another amusement park operator, for around $3.4 billion according to reports.
  • Cedar Fair, who owns and operates 15 of their own parks, including the iconic Cedar Point in Sandusky, Ohio and Knott’s Berry Farm in Buena Park, California, confirmed that it had received and was reviewing a proposal from SeaWorld.
  • The offer is currently under review, and deliberations are ongoing. It is unclear at this time whether or not Cedar Fair will accept the offer and proceed with the transaction.
  • According to Bloomberg, Cedar Fair rose 9.6% to $54.51 at 11:23 a.m. in New York before trading was halted, giving the company a market value of about $3.1 billion. SeaWorld rose 4.7% to $62.35 at 12:35 p.m., for a market value of about $4.8 billion.
  • SeaWorld made the bid, offering $60.00 per unit in cash for Cedar Point, and both companies are said to be working with advisers on the proposal.
  • SeaWorld Entertainment Inc. owns and operates:
  • If the acquisition goes through, SeaWorld will own and operate Cedar Fair’s collection of parks:
    • California’s Great America (Santa Clara, CA)
    • Canada’s Wonderland (Vaughan, ON)
    • Carowinds (North and South Carolina)
    • Cedar Point (Sandusky, OH)
    • Cedar Point Shores (Sandusky, OH)
    • Dorney Park (Philadelphia, PA)
    • Kings Dominion & Soak City (Doswell, VA)
    • Kings Island (Cincinnati, OH)
    • Knott’s Berry Farm (Buena Park, CA)
    • Knott’s Soak City (Buena Park, CA)
    • Michigan’s Adventure (Muskegon, MI)
    • Valleyfair (Minneapolis, MN)
    • Worlds of Fun/Oceans of Fun (Kansas City, MO)
    • Schlitterbahn Water Park & Resort (New Braunfels, TX)
    • Schlitterbahn Water Park (Galveston, TX)