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SeaWorld Entertainment Inc. has offered to buy amusement park owner Cedar Fair for around $3.4 billion, people with knowledge of the matter said.
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Cedar fair released this statement:
Cedar Fair, L.P. (NYSE: FUN), a leader in regional amusement parks, water parks and immersive entertainment, today confirmed that it has received an unsolicited non-binding proposal from SeaWorld Entertainment, Inc.
Consistent with its fiduciary duties, and in consultation with its independent legal and financial advisors, the Cedar Fair Board of Directors will carefully review and consider the proposal to determine the course of action that it believes is in the best interest of the Company and its unitholders. Cedar Fair unitholders do not need to take any action at this time.
Perella Weinberg Partners L.P. is serving as financial advisor to Cedar Fair and Weil, Gotshal & Manges is serving as legal counsel.