© 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)
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.