The amusement park business simply introduced a serious deal that is certain to be larger than most rollercoaster drops.
Cedar Truthful and Six Flags Leisure agreed on a merger value an estimated $8 billion on Thursday that may tie collectively Six Flags’s iconic parks with these below the Cedar Truthful license, which embrace widespread locations equivalent to Cedar Level in Ohio, Carowinds within the Carolinas (you possibly can stand in each states on the identical time on park grounds), and Kings Dominion in Doswell, Virginia.
“The mixture of Six Flags and Cedar Truthful will redefine our friends’ amusement park expertise as we mix the very best of each firms,” stated Selim Bassoul, president and CEO of Six Flags, in an organization assertion.
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The brand new deal will umbrella 27 amusement parks, 15 water parks, and 9 particular person resort proprieties in North America.
“Our merger with Six Flags will convey collectively two of North America’s iconic amusement park firms to ascertain a extremely diversified footprint and a extra strong working mannequin to boost park choices and efficiency,” stated Richard Zimmerman, president and CEO of Cedar Truthful. “Collectively, we may have an expanded and complementary portfolio of engaging belongings and mental property to ship partaking leisure experiences for friends.
As each firms are publicly traded, it is estimated that Cedar Truthful shareholders will personal roughly 51.2% of all mixed firm shares whereas Six Flags shareholders will personal 48.8% of shares.
Every firm will retain its Mental property for related manufacturers and partnerships, equivalent to DC Comics and Looney Tunes.
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