Cedar Fair stock jumps, stopped after report from SeaWorld takeover bid

Visitors to Knott’s Berry Farm ride the HangTime rollercoaster during the first day of public operation in Buena Park on Friday, May 11, 2018.

Jeff Gritchen | Orange County Register | Getty Images

Shares of the owner of theme park Cedar Fair rose nearly 10% on Tuesday before stopping, after a report suggested that SeaWorld Entertainment had offered to buy out the company for about $ 3.4 billion.

Bloomberg reported that SeaWorld, which also owns Busch Gardens, made a bid of about $ 60 per share for the owner of Knott’s Berry Farm, quoted by people familiar with the matter. Cedar Fair opened Tuesday at $ 50 per share and went up to $ 54.51 before trading stopped for news.

According to the publication, discussions are ongoing and it is unclear if Cedar Fair will accept the deal.

Cedar Fair is one of the largest regional theme park operators in the world. Its properties include traditional theme parks such as California Great America, Cedar Point, Carowinds and Kings Dominion, as well as water parks such as Schlitterbahn, and two sports complexes. The company also has 11 hotels.

This is a breaking news story. Please check back for updates.


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