Big Law
Cedar Fair Reviews a $3.4 Billion Offer From SeaWorld
Cedar Fair said Tuesday that it is reviewing an unsolicited proposal it received from SeaWorld Entertainment to buy out the company.
Bloomberg, which first reported the news, said the offer was worth $3.4 billion. The news sent shares of the theme park owner up 10%, before trading was halted. When trading resumed, Cedar Fair’s stock rose more than 15% and hit a 52-week high of $57.55. The stock closed the day at $56.25, up 13%.
In a press release, Cedar Fair didn’t disclose details of SeaWorld’s proposal. The company said it is consulting with legal and financial advisors about the offer.
