Six Flags and Cedar Fair Merger Approved, Shares Rise 3.9%

Cedar Fair, L.P. (NYSE: FUN) and Six Flags Entertainment Corporation (NYSE: SIX) have announced that the regulatory conditions for their proposed merger of equals have been satisfied. The companies expect to close the merger on July 1, 2024, and immediately following the closing, the combined company will be renamed "Six Flags Entertainment Corporation" and will begin trading on the New York Stock Exchange under the ticker symbol "FUN" on July 2, 2024.

Six Flags President and CEO Selim Bassoul, who will serve as executive chairman of the combined company's board of directors, expressed satisfaction with the conclusion of the review process with the Department of Justice and excitement for the official merger. Cedar Fair President and CEO Richard Zimmerman, who will retain the same role in the combined company, emphasized the strengths brought together by the merger, noting an anticipated pro-forma enterprise value of approximately $8 billion for the combined entity.

Zimmerman highlighted the combined company's enhanced financial flexibility, which will enable investments in new rides, attractions, food and beverage options, and consumer technologies. This is expected to drive future growth and ensure continuous improvement and innovation, ultimately enhancing the guest experience at the parks.

These developments signal a significant milestone in the journey of both companies towards offering unparalleled, family-focused entertainment experiences across North America. Following these announcements, the company's shares moved 3.9%, and are now trading at a price of $31.21. Check out the company's full 8-K submission here.

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