Six Flags puts itself up for sale

I think it is sad Six Flags is buying out. Do you think whoever would buy it, would keep the name? Because the GP would be so damned confused.

Escher...Bill gates already HAS a part of Six Flags..... 11% of it through his holding company Cascade Investments!

The thing that seems strange to me is that the stock went up when talk of the sale comes up. It seems to me that shareholders and people who are looking to buy stock are thinking that anyone could be better than Burke

No, it just meant that the company would sell for more per share than what Snyder was trying to pay to take the company over by just buying the minor controlling interest in the park (34.9% more of the outstanding shares).

The company could sell for anything....it had assets as of end of its' fiscal year 2004 in excess of 3.6 Billion dollars, but was also carrying a long term loan debt of 2.1 Billion.

The long and short of it however, is that Snyder was doing a power grab on the "cheap" - there's 93.1 million shares in SF stock, he wanted to get 34.9% more = 32,491,900 shares and he wanted to pay $6.50 a share for a total of $211,197,350. Far far far less than what the company would actually sell for on the auction block - hence the stock price rise upon the announcement by the board of its' intent to sell.

*** This post was edited by redman822 8/30/2005 1:38:41 PM ***