SeaWorld Makes Offer to Cedar Fair for $3.4 Billion

0

SeaWorld Entertainment Inc. seems to be trying to make some moves in the amusement park business. Recently, SeaWorld Entertainment Inc. offered to buy Cedar Fair and all its amusement parks in North America in an unsolicited and non-binding offer for $3.4 billion. SeaWorld Entertainment Inc. could potentially become the biggest amusement park company in North America if this deal goes through due to the amount of properties it would own. Cedar Fair currently owns 16 properties in the United States and Canada.

If SeaWorld Entertainment Inc. were to acquire Cedar Fair in this unsolicited and non-binding offer, it would take ownership of all amusement parks including Cedar Point in Ohio and Knott’s Berry Farm near Disneyland in California.

Photo Credit: Cedar Fair

Currently, SeaWorld Entertainment Inc. has theme parks and water parks in Florida, California, Texas, Virginia, and Pennsylvania. SeaWorld owns both Busch Gardens theme parks along with Sesame Place.

A little over two years ago, Cedar Fair turned down an offer from Six Flags to buy them out for $4 billion.

Cleveland.com cites Dennis Speigal, founder of International Theme Park Services, saying the deal is “likely too low.” He also added, “It doesn’t appear to me that their offer is even in the ballpark at this time. It could end with a deal being done or it could evaporate like the Six Flags overture went.”

Cedar Fair released a statement say, “that it believes is in the best interest of the company and its unitholders.”

This could certainly be a stellar deal for SeaWorld Entertainment Inc. if Cedar Fair accepts it. It would increase the company’s size exponentially. It would also make them a major player in the North American theme park industry.

We will certainly keep our eyes on this deal, and let you know what happens. Stay tuned!

What do you think? Let us know in the comments below!

Sources: Cleveland.com, Cinemablend


Pirates & Princesses (PNP) is an independent, opinionated fan-powered news blog that covers Disney and Universal Theme Parks, Themed Entertainment and related Pop Culture from a consumer's point of view. Opinions expressed by our contributors do not necessarily reflect the views of PNP, its editors, affiliates, sponsors or advertisers. PNP is an unofficial news source and has no connection to The Walt Disney Company, NBCUniversal or any other company that we may cover.