Cedar Fair (FUN) - Get 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 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.

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.