Posted
Six Flags could emerge from bankruptcy as soon as March under an $830 million financing deal it is arranging with lenders, the company said in a regulatory filing on Thursday.
Read more from Reuters.
There's an important distinction. The management team that drove SFI into the ground is not the same team that was forced by previously incurred debt to declare bankruptcy. Therefore, from all appearances, current management will emerge, still in charge.
With Cedar Fair, Kinzel & Co. are the very same ones that brought CF to its current position. I find it highly unlikely that they would come out on the other side, still running the show. Which is an outcome that doesn't appeal to Dick, so the board would never vote for it.
My author website: mgrantroberts.com
Hopman said:
Here's a crazy thought (and I never thought I'd be saying this): What if Six Flags buys CF????? Seeing as SF is so good at dealing with debt & all.
How do bankrupt companies buy other over-leveraged companies? Pass what you're smoking this way, please.
Jeff - Editor - CoasterBuzz.com - My Blog
SF buying CF sounds like some kind of nightmare where you are terrified while you are asleep, but once you wake up you start laughing out loud.
I don't care what happens to SF.
-Travis
www.youtube.com/TSVisits
If SF bought CF maybe they could get KBF to copy SFMM and start giving 25% SP discounts on food and merchandise, start using value books and Q-bots and relax their loose article policies. That would be a big step up.
My mother (1946-2009) once asked me why I go to Magic Mountain so much. I said I feel the most alive when I'm on a roller coaster.
2010 total visits: SFMM-9, KBF-2
2010 total ride laps: 437
Jeff said:
Hopman said:
Here's a crazy thought (and I never thought I'd be saying this): What if Six Flags buys CF????? Seeing as SF is so good at dealing with debt & all.How do bankrupt companies buy other over-leveraged companies? Pass what you're smoking this way, please.
It does seem ridiculous, yet somehow K-Mart bought Sears. Go figure.
I don't know the details of that deal, but are you really suggesting that a company in bankruptcy can acquire another company worth $2.4 billion or so?
Jeff - Editor - CoasterBuzz.com - My Blog
Kmart was just out of (year or so) bankruptcy when they purchased Sears for 11billion.
If the last few years are any indiciation, they're totally on the right track.
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