Does this mean its official?

I beleive I am reading this right. It looks like the sale of SFI to Red Zone is complete as of Oct 24th.

http://investors.sixflags.com/phoenix.zhtml?c=61629&p=irol-newsArticle&ID=767998&highlight

If I missed this somewhere on the boards, I apologize.

I don't think that is correct...I may be wrong, but, I read it to say that they have until the 24th to make an official offer to purchase, howevere, the SF Board feels that this is not in the best of interest of the shareholders...thus making this a hostile takeover type of situation if they pursue it.

All it means is that stockholders as of October 24 may vote on whether or not ditch current directors with those from Red Zone.

Red Zone, Red Zone? As in the Old Spice Red Zone? hehe feel free to flame me if i'm wrong.

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Jeff said:
All it means is that stockholders as of October 24 may vote on whether or not ditch current directors with those from Red Zone.

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Ah, ok. Thanks for clearing that up for me. I wasn't sure if it meant that SFI was sold.

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The Board believes that the proposals for which Red Zone is seeking consents are not in the best interests of Six Flags stockholders...

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I guess they would say that since it is they who Snyder wants to oust! ;) But in reality lies I say...

*** Edited 10/18/2005 2:43:58 AM UTC by Cameraman***

gator believes that the proposals of Red Zone are not in the best interests of the current Board...and that the current Board is not (and HAS not) been acting in the best interests of the stockholders...

Would Red Zone do better? Who knows....

I should note that I've been more impressed with the cap-ex decisions the last couple years, but that goes into the pile of "way too little, way too late" - the company has been driven into the dirt by the mindless expansionism and the lack of consideration for the employees and customers.
*** Edited 10/18/2005 1:54:34 PM UTC by rollergator***

Red Zone asked for it, Red Zone got it...but who'd sell their shares for less than they're worth on the market right now with other suitors potentially offering more?

-'Playa