jedimaster1227 Posted February 1, 2022 Share Posted February 1, 2022 It has been reported that SeaWorld Entertainment has made an offer to buy Cedar Fair for around $3.4 billion. This news is still developing and we will update this thread as more information comes in. https://www.bloomberg.com/news/articles/2022-02-01/seaworld-said-to-make-3-4-billion-takeover-bid-for-cedar-fair SeaWorld Entertainment Inc. has offered to buy amusement park owner Cedar Fair for around $3.4 billion, people with knowledge of the matter said. SeaWorld made a bid of about $60 per unit in cash for Sandusky, Ohio-based Cedar Fair, according to the people, who asked not to be identified because the information is private. The companies are working with advisers on the proposal, the people said. Deliberations are ongoing, and it’s unclear if the approach will lead to a transaction, the people said. A representative for Cedar Fair declined to comment, while a spokesperson for SeaWorld didn’t immediately respond to a request for comment. Update: Cedar Fair has confirmed that the proposal has been submitted to the Cedar Fair Board of Directors for review. https://ir.cedarfair.com/news/news-details/2022/Cedar-Fair-to-Review-Unsolicited-Non-Binding-Proposal-From-SeaWorld/default.aspx Cedar Fair, L.P. (NYSE: FUN), a leader in regional amusement parks, water parks and immersive entertainment, today confirmed that it has received an unsolicited non-binding proposal from SeaWorld Entertainment, Inc. Consistent with its fiduciary duties, and in consultation with its independent legal and financial advisors, the Cedar Fair Board of Directors will carefully review and consider the proposal to determine the course of action that it believes is in the best interest of the Company and its unitholders. Cedar Fair unitholders do not need to take any action at this time. Perella Weinberg Partners L.P. is serving as financial advisor to Cedar Fair and Weil, Gotshal & Manges is serving as legal counsel. Link to comment Share on other sites More sharing options...
SharkTums Posted February 1, 2022 Share Posted February 1, 2022 I really wanted it the other way around to see Manta become Flight Deck! 1 8 Link to comment Share on other sites More sharing options...
ytterbiumanalyst Posted February 1, 2022 Share Posted February 1, 2022 Sea World Pepsi Chipotle, proud to be one of America's eight companies! 3 12 Link to comment Share on other sites More sharing options...
VegasBaby Posted February 1, 2022 Share Posted February 1, 2022 Wasn't SeaWorld having trouble paying their vendors last year? I seem to remember an article about some of the ride companies filing liens against them. I find it hard to believe they now have the funds to take over Cedar Fair. 3 Link to comment Share on other sites More sharing options...
swfan1988 Posted February 1, 2022 Share Posted February 1, 2022 Update: THE OFFER IS REAL!! https://ir.cedarfair.com/news/news-details/2022/Cedar-Fair-to-Review-Unsolicited-Non-Binding-Proposal-From-SeaWorld/default.aspx "Cedar Fair, L.P. (NYSE: FUN), a leader in regional amusement parks, water parks and immersive entertainment, today confirmed that it has received an unsolicited non-binding proposal from SeaWorld Entertainment, Inc. Consistent with its fiduciary duties, and in consultation with its independent legal and financial advisors, the Cedar Fair Board of Directors will carefully review and consider the proposal to determine the course of action that it believes is in the best interest of the Company and its unitholders. Cedar Fair unitholders do not need to take any action at this time. Perella Weinberg Partners L.P. is serving as financial advisor to Cedar Fair and Weil, Gotshal & Manges is serving as legal counsel." 2 1 Link to comment Share on other sites More sharing options...
coasterbill Posted February 1, 2022 Share Posted February 1, 2022 Picture this: Orcas in Diamondback's splashdown pool enjoyed from the viewing deck of my favorite theme park patio while drinking free beer. 6 3 Link to comment Share on other sites More sharing options...
Superbatboy Posted February 1, 2022 Share Posted February 1, 2022 Yeah, I don't like this... Link to comment Share on other sites More sharing options...
coasternut Posted February 1, 2022 Share Posted February 1, 2022 ^ Not a good thing. I really don't see this happening. Link to comment Share on other sites More sharing options...
VegasBaby Posted February 1, 2022 Share Posted February 1, 2022 Will they name the new company Seadar Fair? 2 9 Link to comment Share on other sites More sharing options...
coasterbill Posted February 1, 2022 Share Posted February 1, 2022 In all seriousness, I see nothing not to like here. Both chains are similar levels of quality (see: they're both clusterfucks) and both actually compliment eachother's weaknesses reasonably well. I doubt there would be much of a noticeable change from a guest perspective other than probably more aggressive operating calendars (especially at parks like CGA and Carowinds) and some coasters actually running after October. I would love for someone to explain to be how SEAS is any more f*cked up than Cedar Fair though aside from the total fanboy answer of "THEY OPENED ORION ON TIME!!!1111" or whatever that doesn't matter going forward... If they turned down a 4 billion dollar offer from SIX in 2019 and accept a 3.4 billion dollar offer in 2022 then l...o...f*cking...l though. 6 Link to comment Share on other sites More sharing options...
kbfbest Posted February 1, 2022 Share Posted February 1, 2022 If this happens I wounder what this would due to Knotts being 2hrs from a Sea World park. Link to comment Share on other sites More sharing options...
coasterbill Posted February 1, 2022 Share Posted February 1, 2022 Knott's did almost 900k more guests than SeaWorld San Diego in 2019 so they would probably close Knott's and go balls-deep in the orca park... (Nothing, it would mean nothing) 2 6 Link to comment Share on other sites More sharing options...
swfan1988 Posted February 1, 2022 Share Posted February 1, 2022 I think that maybe the only true bummer is maybe Kings Dominion. Being that BGW and KD are about an hour from each other, having them both under the same ownership and BGW already being the stronger park, could spell trouble for KD. I don't think they'd shut it down, but it probably would get much less attention and investment. I kinda also wonder if SeaWorld would consider selling the smaller CF parks (ValleyFair, Dorney, Worlds of Fun, Michigan's Adventure and the Gilroy Gardens operations contract) to someone in order to help pay for the sale? I can't imagine they have their eyes particularly set on those parks, although if their profitable they could probably just stay the course... Edit: Forgot to add that I'm just not gonna get my hopes up at this point. Link to comment Share on other sites More sharing options...
coasterbill Posted February 1, 2022 Share Posted February 1, 2022 1 minute ago, swfan1988 said: I think that maybe the only true bummer is maybe Kings Dominion. Being that BGW and KD are about an hour from each other, having them both under the same ownership and BGW already being the stronger park, could spell trouble for KD. I don't think they'd shut it down, but it probably would get much less attention and investment. What are they going to do? Sabotage the park by opening it like 6 months later in the year than the Busch park down the road and remove their most popular coaster and replace it with nothing? That would be ridicu.... oh 3 7 Link to comment Share on other sites More sharing options...
southpuddle Posted February 1, 2022 Share Posted February 1, 2022 36 minutes ago, VegasBaby said: Wasn't SeaWorld having trouble paying their vendors last year? I seem to remember an article about some of the ride companies filing liens against them. I find it hard to believe they now have the funds to take over Cedar Fair. Just goes to show that money is not real and is meaningless! Link to comment Share on other sites More sharing options...
swfan1988 Posted February 1, 2022 Share Posted February 1, 2022 4 minutes ago, coasterbill said: What are they going to do? Sabotage the park by opening it like 6 months later in the year than the Busch park down the road and remove their most popular coaster and replace it with nothing? That would be ridicu.... oh Cedar Fair was just getting a head start... Link to comment Share on other sites More sharing options...
Hilltopper39 Posted February 1, 2022 Share Posted February 1, 2022 Yeah I don't really have anything bad or good to say about this, seems like new pass offerings in SoCal with Knotts and SWSD could be a really nice option to offer people there. I wonder if any parks would get rebranded? I'm guessing probably not to a SeaWorld park, but maybe Worlds of Fun adds some animal exhibits and becomes a Busch Gardens park? I could see that maybe working. Is it possible SeaWorld would be interested in building some stand alone branded aquarium attractions to existing Cedar Fair park kind of like SeaLifes? I could see a year round SeaWorld Branded aquarium in Charlotte, Kansas City or Minneapolis potentially being successful. 1 Link to comment Share on other sites More sharing options...
Zand Posted February 1, 2022 Share Posted February 1, 2022 After they turn this down, I guess next up will be a $2.8 billion offer from Parques Reunidos in 3 years... 1 5 Link to comment Share on other sites More sharing options...
coasterbill Posted February 1, 2022 Share Posted February 1, 2022 ^^My guess on how the parks will be re-branded is that they won't be. The only thing that would even be worth the effort would maybe be a Gilroy Gardens / Sesame Place re-brand but I have no clue what the operating agreement even is with that place... 2 Link to comment Share on other sites More sharing options...
cfc Posted February 1, 2022 Share Posted February 1, 2022 2 hours ago, SharkTums said: I really wanted it the other way around to see Manta become Flight Deck! Kraken--Steel Force Monster Mako--Blue Steel Vengeance Ice Breaker--Launched Breaker Zone Journey to Atlantis--Big Splash Tower Super Grover's Box Car Derby--Woodstock Express (What else would it be?) 1 7 Link to comment Share on other sites More sharing options...
BotanicalStig Posted February 1, 2022 Share Posted February 1, 2022 1 hour ago, kbfbest said: If this happens I wounder what this would due to Knotts being 2hrs from a Sea World park. Obviously they'd have no choice but to close down Knotts. For the sake of the parks, I hope this doesn't go through. I generally find Busch & SeaWorld parks pretty terrible. Money is always the #1 objective so who knows. Link to comment Share on other sites More sharing options...
IntaminLove Posted February 1, 2022 Share Posted February 1, 2022 Cedar Fair will turn it down since BGW built a new Intamin. Nothing else matters. 1 Link to comment Share on other sites More sharing options...
BotanicalStig Posted February 1, 2022 Share Posted February 1, 2022 Come to think of it, as much as I dislike Busch/SW. I do like intamins. OK I'd let them buy intamins, but I don't want their food, employees, operating procedures, trash cans etc. Keep those CF. Just let us have intamins. Link to comment Share on other sites More sharing options...
Haymaker Posted February 1, 2022 Share Posted February 1, 2022 Then they can bring back SeaWorld Ohio! 1 Link to comment Share on other sites More sharing options...
Zand Posted February 1, 2022 Share Posted February 1, 2022 24 minutes ago, BotanicalStig said: Come to think of it, as much as I dislike Busch/SW. I do like intamins. OK I'd let them buy intamins, but I don't want their food, employees, operating procedures, trash cans etc. Keep those CF. Just let us have intamins. I can't imagine leaving Busch Gardens Williamsburg and thinking "I don't want their food, employees, or operating procedures at Kings Dominion." I'd love to hear an elaboration on this because I'm genuinely curious. 4 Link to comment Share on other sites More sharing options...
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