Merger of Equals – Cedar Fair and Six Flags Combine

Six Flags Entertainment Corporation (NYSE: FUN) has successfully completed a merger of equals with Cedar Fair, L.P., effective as of July 1, 2024. As a result of this merger, Cedar Fair's units and shares of former Six Flags' common stock ceased trading at the close of the New York Stock Exchange on July 1, 2024. Starting from July 2, 2024, shares of Six Flags Entertainment Corporation's common stock will be trading on the NYSE under the ticker symbol "FUN."

Under the terms of the merger agreement, Cedar Fair unitholders received one share of common stock in Six Flags Entertainment Corporation for each unit owned, while former Six Flags shareholders received 0.5800 shares of common stock in Six Flags Entertainment Corporation for each share owned.

Following the merger, Richard Zimmerman, President and CEO of Six Flags Entertainment Corporation, expressed that the merger establishes a new Six Flags Entertainment Corporation with a highly diversified footprint and a robust operating model. He highlighted that the combination enhances the financial profile of the company with strong cash flow generation to accelerate investments in their parks.

Selim Bassoul, Executive Chairman of the board of directors of Six Flags Entertainment Corporation, emphasized the excitement to unite the Cedar Fair and Six Flags teams to capitalize on the growth opportunities and operational efficiencies of the expanded entertainment portfolio.

The combined company, as of the merger, operates 27 amusement parks, 15 water parks, and nine resort properties across 17 states in the U.S., Canada, and Mexico. It maintains a focus on providing fun, immersive, and memorable experiences to millions of guests every year with world-class coasters, themed rides, and thrilling water parks. The company also holds a portfolio of beloved intellectual property such as Looney Tunes®, DC Comics®, and Peanuts®.

It's notable that each park in the combined company's portfolio will retain its legacy branding with no changes to park names currently being planned or contemplated.

With this merger completed, Six Flags Entertainment Corporation is set to become a leading amusement park operator with a highly diversified footprint and a robust operating model, aiming to enhance park offerings and performance through a complementary portfolio of attractive assets and intellectual property from each of Cedar Fair and the former Six Flags. Today the company's shares have moved 5.3% to a price of $54.89. For more information, read the company's full 8-K submission here.

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