SIX - Theme park stocks jump on report indicating SeaWorld and Cedar Fair are in M&A talks

Theme park stocks went for a roller coaster ride in morning trading on a report that SeaWorld Entertainment (SEAS -1.6%) made a $3.4B takeover offer for Cedar Fair (FUN +10.8%). Bloomberg reports the bid for FUN was at $60 per unit. Sources indicate the companies are currently working together on a proposal. Cedar Fair (NYSE:FUN) has traded as low as $39.15 over the last year, but stood at $55.18 at last check. Shares of Cedar Fair were halted for trading earlier in the session. Six Flags Entertainment (SIX +3.6%) also broke higher on news of the sector M&A activity. Compare valuation marks on Cedar Fair, SeaWorld and Six Flags.

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Theme park stocks jump on report indicating SeaWorld and Cedar Fair are in M&A talks