Six Flags Bids for Peer Theme-Park Operator Cedar Fair: Report
Cedar Fair (FUN) - Get Cedar Fair, L.P. Report shares jumped as much as 11% Wednesday after Reuters reported the company has received an acquisition proposal from fellow theme-park operator Six Flags Entertainment. (SIX) - Get Six Flags Entertainment Corporation Report
Citing people familiar with the matter, Reuters reported that Cedar Fair is considering a cash-and-stock offer from Six Flags.
The sources told Reuters that there's no certainty that a deal will be reached.
Six Flags declined comment. Cedar Fair couldn't immediately be reached for comment.
TheStreet Recommends
Cedar Fair shares climbed to an intraday high of $64.86, before pulling back. At last check the shares were up 2.4% to $59.60.
Six Flags shares rose 3% around midday, but have retreated and are down 1.8% to $50.62.
