Posted Monday, April 12, 2010 1:35 PM | Contributed by Jeff
Cedar Fair filed documents with the Securities and Exchange Commission explaining the rights plan would be triggered if any company acquired 20 percent of more of Cedar Fair's outstanding units. The plan has several provisions designed to make it harder to take over Cedar Fair against the wishes of the company's management.
Read more from The Sandusky Register.
Oh how interesting this years unit holder meeting is going to be! Aside from this game plan Kinzel & Co. are inacting, nothing can stop investors from gaining enough momentum to take control of the board and then start ousting management. I believe if any significant investor has an interest in making some serious money they will do exactly what happened at Disney several years ago. We watched as entire management teams were let go and now we see what a significant difference it has made in the parks and overall financial performance of Disney. The same can happen at Cedar Fair if placed in the right hands.
This will indeed be very interesting to watch. I'm curious as to how this will shake out.. A few choice DK quotes come to mind when I think of what I would vote for if I were a shareholder, but again maybe that's just me.
I'm sure that doesn't have anything to do with them wanting to concentrate on operations and leave the finances to someone else. I think the institutional investors that have been with the company for decades are going to play a role in all of this.
The company filed the poisonous rights plan this week."
What was the plan? A threat to go more into debt?
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