Cedar Point Rejects Merger With Six Flags, For Now
The owners of Cedar Point and Michigan's Adventure have turned down an offer to merge with Six Flags for now.
I was thrilled to hear that Cedar Fair decided to turn down the merger deal with Six Flags, but it might not be a done deal. Cedar Fair is the parent company of Cedar Point, Michigan's Adventure, and numerous other parks around the country. They were approached by Six Flags with a possible merger last week, but according to WXYZ, the offer was too low.
The offer was reportedly worth $4 Billion along with stock and cash options for shareholders. The fact that the bid is considered too low should tell you that the parks are doing just fine financially.
The only problem is that the people at Cedar Fair didn't say that they were not interested in selling, only that the price was too low. That means that someone may come in with a higher offer that grabs the attention of the owners.
In the end, it wouldn't really make a big difference to the average thrill seeker. There are not many ways to change or improve Cedar Point, seeing as it is already the best amusement park in the country. The problem would be that one person would own every major amusement park withing driving distance of us. If they wanted to raise prices, then there wouldn't be much we could do about it.
I guess we will just wait and see, but just in case you were looking to get in on some of the action, financial advisers are definitely suggesting to buy Cedar Fair stock now just in case.