SeaWorld Entertainment has made an offer to purchase Ohio-based Cedar Fair amusement park owner Cedar Fair for around $3.4 billion in cash.
Cedar Fair confirmed in a news release that it has received an unsolicited non-binding proposal from SeaWorld Entertainment, Inc. and that SeaWorld made a bid of about $60 per unit in cash for Sandusky-based Cedar Fair,
It’s unclear what will take place next, or whether a deal will actually take place, but one thing is for sure, things have been looking up for SeaWorld, and this move by SeaWorld would have been something most wouldn’t have seen coming just a few years ago.
SeaWorld, which also owns Busch Gardens and Aquatica, was averaging $30 to $35 per share in 2019, but dropped swiftly to $8 and $10 per share during the early days of the pandemic. Currently, shares are at about $62.
We will update as more information becomes available.
Photos: Danielle Carey
