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Cedar Fair (NYSE:FUN) has announced a merger with Six Flags Entertainment (NYSE:SIX) that is expected to be completed 2024-H1.
Under the terms of the agreement, Cedar Fair has agreed to give Six Flags Entertainment $8.00 billion in in exchange for SIX stock. Currently, neither company has disclosed whether the paymentwill be in cash or in stock.
Cedar Fair LP operates amusement park-resorts located in various states across USA and Canada. All their parks have facilities for people from all age groups as well as exciting rides and attractions.
Six Flags Entertainment Corp owns and operate regional theme parks and water parks. The company operates around 27 theme parks and waterparks, 24 are located in the United States, two are located in Mexico and one is located in Montreal, Canada.
A merger happens when a company combines operations with another company. In practice, one company will buy the other company's stock in exchange for its own stock. In some cases, cash is used to pay for the company's stock but usually the companies agree to a stock-for-stock transaction.
Due to the exchange and acquisition of stock, a merger is similar to an acquisition. This is why the two terms are commonly grouped together as mergers and acquisitions (M&A). However, in a merger, the leadership & operations of both companies usually change dramatically, while during an acquisition this is less likely to happen.
Make sure to follow our mergers & acquisitions calendar to stay-up-to-date on the most recent M&A deals.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
