Cedar Fair, the owner of Sandusky’s Cedar Point and several other amusement parks across North America, has received a takeover bid by SeaWorld Entertainment worth a reported $3.4 billion.
SeaWorld made a bid of about $60 per unit in cash for Sandusky, Ohio-based Cedar Fair.
Deliberations are ongoing, and it’s unclear whether the approach will lead to a transaction at this point in time.
Related: Preview of SeaWorld’s Newest Launch Coaster Ice Breaker
Cedar Fair confirmed in a statement that it had received and was reviewing an “unsolicited, non-binding” proposal from SeaWorld. Perella Weinberg Partners LP and Weil Gotshal & Manges LLP are advising Cedar Fair.
A spokesperson for SeaWorld didn’t immediately respond to a request for comment.
The potential deal also indicates that consolidation may be ramping up in the theme park industry, which remains fairly fragmented in the U.S. despite being dominated by a half-dozen major players. SeaWorld and Cedar Fair have both been subject to takeover speculation through the years
Cedar Fair operates 13 amusement properties, including Knott’s Berry Farm in California and Cedar Point in Ohio.
Related: Seaworld Orlando Seven Seas Food Festival Returns on February 4th
Check back here on Chip & Co. for the latest theme park and entertainment news updates!
Let our friends at Destinations to Travel help you book your next Disney Vacation. They are the preferred Travel Agency of Chip and Company and Disney Addicts, and who we use ourselves.
Get started below for your FREE No Obligation Quote.
Book With our friends at Destinations to Travel
For the BEST in Disney, Universal, Dollywood, and SeaWorld Theme Park News, Entertainment, Merchandise & More follow us on, Facebook, Instagram, and Youtube. Don't forget to check out the Chip and Company Radio Network too!
