Cedar Fair and Six Flags Merger of Equals Successfully Completed
(eap) Yesterday, Six Flags and Cedar Fair announced the successful completion of their merger of equals. The combined company will now operate under the name Six Flags Entertainment Corporation. The shares of Cedar Fair and the shares of former Six Flags common stock were delisted from the New York Stock Exchange (NYSE) on July 1, 2024 after the close of trading. As of today, July 2, 2024, the common stock of the combined Six Flags Entertainment Corporation will trade on the NYSE under the ticker symbol “FUN”.
Under the terms of the merger agreement, Cedar Fair unitholders received one share of common stock in Six Flags Entertainment Corporation for each unit owned, and Former Six Flags shareholders received 0.5800 shares of common stock in Six Flags Entertainment Corporation for each share owned.
“Today marks a significant milestone for our company, shareholders, guests and associates, unlocking higher value and greater opportunities to deliver engaging entertainment experiences,” said Richard Zimmerman, president and chief executive officer of Six Flags Entertainment Corporation (see EAP News of 18 June 2024 for an overview of the merged management team). “Our merger establishes a new Six Flags Entertainment Corporation with a highly diversified footprint and robust operating model, enhancing park offerings and performance though the complementary portfolio of attractive assets and intellectual property from each of Cedar Fair and the former Six Flags. The combination also enhances the financial profile of the company 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.” According to Zimmermann, the merger brings together the strengths of both companies, combining Cedar Fair’s reputation for exceptional guest experiences with Six Flag’s innovative attraction design.
“We believe that by combining the best ideas and most successful entertainment practices of both Six Flags and Cedar Fair, the new Six Flags can deliver a superior level of joy and excitement that has yet to be experienced by regional park guests,” added Selim Bassoul, executive chairman of the board of directors of Six Flags Entertainment Corporation. “We are excited to unite the Cedar Fair and Six Flags teams to capitalize on the tremendous growth opportunities and operational efficiencies of our more extensive entertainment portfolio.”
As North America’s largest operator of regional theme parks and resorts, Six Flags Entertainment Corporation comprises a total of 27 theme parks, 15 water parks and nine resorts in the USA, Canada and Mexico. All parks in the portfolio are to retain their branding and no name changes are planned. ■
