Cedar Fair takeover a no-go; Shares of FUN and SIXF are still going strong. - Sourced Picksthatmove

April 8, 2010 - PRLog -- Cedar Fair takeover a no-go; Shares of FUN and SIXF are still going strong.

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Cedar Fair LP  had previously announced that it was planning to turn into a private company on a $635 million takeover by a New York private-equity firm, Apollo Global Management.  Cedar Fair is the largest operator of amusement parks in the U.S.  The plan fell through due to a lack of positive response from shareholders.  

The Associated Press reports that Apollo offered Cedar Fair $11.50 per share which Cedar accepted.  Shortly after Cedar Fair’s amusement parks started to see a decline in spending and overall attendance by the public.  Under the deal it was agreed that Apollo would assume the $1.7 billion debt if two-thirds of the company’s shares held by investors approved the transaction.

A company spokesperson said that they are not expecting any impact on its summer attendance as a result of the failed transaction with Apollo.

Shares of FUN traded in the range of 12.43 to 13.00 today, closing on gains of 4.04% or 0.50 at 12.87.  FUN hit a high of 13.56 in late January 2010.


Six Flags Inc.  announced that it has introduced an application for the iPhone and iPod touch.  The application is aimed to increase the park experience and offers an interactive tour and thrill guide, with interactive apps like Park Pal, Friend Finder, Social Club and Big Scream and Events Listing.  The Six Flags theme parks include a wide selection of thrill rides, water attractions, themed areas, concerts, shows, restaurants, game venues and retail outlets.  Six Flags is the world’s largest regional theme park company with 19 parks in the US, Canada and Mexico.  Shares of SIXF closed up today 37.50% or 0.06 at 0.22, hitting the day’s high of 0.24, with the 52 week-high sitting at 0.59 since May 2009.

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