SIX - What Does Wall Street Think About SeaWorld's $3.4 Billion Offer for Cedar Fair?
It's been a week since it was reported that SeaWorld Entertainment (NYSE: SEAS) made a $3.4 billion offer to buy regional amusement park operator Cedar Fair (NYSE: FUN) . The amount of the unsolicited nonbinding proposal hasn't been confirmed, but Cedar Fair has put out a press release indicating that an offer was made. Cedar Fair's board is now reviewing and considering the proposal.
Confirming that an offer was made in an official Cedar Fair press release is promising. There wasn't an official response when reports surfaced three years ago that Six Flags Entertainment (NYSE: SIX) allegedly made a $4 billion offer to snap up its rival. This doesn't mean that wedding bells are in the air. There isn't a timeline here. Cedar Fair can take days, weeks, or even months to decide if it wants to take SeaWorld's reportedly all-cash offer, counter with something higher, or conclude that it's just not interested in a deal. Let's see what analysts make of the offer that would combine two of the larger regional park operators under the same ownership roof.
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What Does Wall Street Think About SeaWorld's $3.4 Billion Offer for Cedar Fair?