swfan1988 Posted February 12, 2022 Share Posted February 12, 2022 According to reports private equity firm Centerbridge Partners has built a 5% stake in Cedar Fair. (WARNING: There might be a pay wall...)https://www.bloomberg.com/news/articles/2022-02-11/centerbridge-is-said-to-build-stake-in-buyout-target-cedar-fair (No pay wall...I think...) https://www.cinemablend.com/movies/the-seaworld-buy-out-of-cedar-fair-just-took-an-interesting-turn I checked the SEC filings (as best as I could read them...) and Centerbridge has built the stake in the company, however they filled 13G forms which I think indicates that they do not intend to use their stake to influence Cedar Fair (At least in theory...). Cedar Fair has not commented on the stake. It looks like Centerbridge has previously been involved in hospitality through investments in Extended Stay America and Great Wolf Lodge. To me this seems to me that Wall Street thinks that a bidding war is gonna break out for CF and the stock price is gonna rise to to reflect that (It's currently trading at about $61/share, up approx.. 22% for the year). Cedar Fair's 4th quarter earnings call is on Wednesday (February 16, 2022), so my guess is that we will hear more then. 1 Link to comment Share on other sites More sharing options...
jazma Posted February 16, 2022 Share Posted February 16, 2022 (edited) Looks like it’s over. https://s1.q4cdn.com/392447382/files/doc_news/SEAWORLD-ENTERTAINMENT-INC.-MAKES-STATEMENT-CONCERNING-CEDAR-FAIR-2022.pdf https://www.prnewswire.com/news-releases/seaworld-entertainment-inc-makes-statement-concerning-cedar-fair-301483201.html?fbclid=IwAR2SR8M6lnKTC9AG7H2BblMBIsGvMFRgBHxqMBAoIhNEkRIQEYh-k1mbECc Quote In response to inquiries from various stakeholders, we confirm that our offer to acquire Cedar Fair was rejected. Unfortunately, we do not see a path to a transaction. Edited February 16, 2022 by A.J. Added quote Link to comment Share on other sites More sharing options...
AmyUD06 Posted February 16, 2022 Share Posted February 16, 2022 Thank you, CF, for rejecting this. 4 Link to comment Share on other sites More sharing options...
swfan1988 Posted February 16, 2022 Share Posted February 16, 2022 Lol, well I guess the jokes are over now...first Iron Gwazi, now this... Link to comment Share on other sites More sharing options...
CedarFlags Posted February 16, 2022 Share Posted February 16, 2022 In my opinion, this was never a serious offer. I think this was financial publicity for Sea World. A chance for them to say "hey everyone, we've got lots of available capital and we're doing great! " 2 Link to comment Share on other sites More sharing options...
CaptainUnknown Posted February 16, 2022 Share Posted February 16, 2022 If SEAS is serious about acquiring new parks, I wonder how much Palace is going for. Link to comment Share on other sites More sharing options...
ricklap77 Posted February 16, 2022 Share Posted February 16, 2022 I never really pictured Seaworld buying Cedar Fair! Link to comment Share on other sites More sharing options...
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