Cedar Fair and Six Flags Entertainment Corp. announced a merger on Nov. 2 that surprised the industry – creating a new enterprise worth an approximate $8 billion.
According to the Sandusky Register, the “merger of equals” was unanimously approved by the boards of directors of both companies. Following the close of the transaction, Cedar Fair unitholders will own about 51.2% and Six Flags shareholders will own about 48.8%.
“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 CEO of Cedar Fair.
Selim Bassoul, president and CEO of Six Flags, added that combining operational models and technology platforms will “unlock new potential for our parks.”