SeaWorld says offer to buy Cedar Fair rejected By Reuters

February 16, 2022 admin Stock News 0

© Reuters. FILE PHOTO: Visitors attend the animal theme park SeaWorld in San Diego, California March 19, 2014 REUTERS/Mike Blake

(Reuters) – SeaWorld (NYSE:) Entertainment Inc said on Tuesday its offer to acquire amusement park operator Cedar Fair (NYSE:) LP has been rejected and that it does not see a path to a transaction.

Cedar Fair did not respond to a request for comment.

Reuters reported earlier this month that SeaWorld, a Florida-based theme park and entertainment company, had offered to buy Cedar Fair for $3.4 billion in cash, according to a person familiar with the matter.

Cedar Fair had a market value of $3.5 billion, as of Tuesday’s close.

Sandusky, Ohio-based Cedar Fair had rejected a takeover offer of $4 billion, or about $70 per share, from larger peer Six Flags (NYSE:) Entertainment Corp in 2019. (https://reut.rs/3HmbhUX)

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