Cedar Fair Corporate Development Discussion Thread (FUN)

P. 162 - Six Flags Trying to Buy Cedar Fair!!!
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Postby Capitalize » Wed Dec 16, 2009 9:39 pm

PeoplemoverMatt wrote:What's funny to me is that after all the speculation that Six Flags, SFMM specifically, was going to be sold, we've seen Busch, Universal, and now Cedar Fair all sold first! :lmao:


It wasn't that long ago Six Flags sold off all their international properties except Mexico, then later numerous properties in the States. And of course there was the stockholder revolt which put the new management in place back in 05... So its not like Six Flags has been unscathed the past decade. Just saying.

And this is disregarding the whole bankruptcy and de-listing of stock thing.

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Postby MagicMountainMan » Wed Dec 16, 2009 9:48 pm

Wow. This came out of left field.

It definitely will be interesting to see how all of this plays out. There were so many question marks facing Cedar Fair even before being sold. When you're over a billion in debt and you're not a big money maker, assets have got to go. I think that they will be shedding some parks to relieve the debt load. If they don't, Cedar Fair will probably end up being the Six Flags of the next decade...

Am I the only one that thinks $700 million is a bit on the low side? I actually have no statistical or financial proof, but it just seems a bit low for what, 11 parks?

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Postby robbalvey » Wed Dec 16, 2009 9:59 pm

^ Especially when you consider that Cedar Fair bought Six Flags World of Adventure for $145 million...

...Just to close it down.

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Postby chemical_echo » Wed Dec 16, 2009 10:32 pm

MagicMountainMan wrote:Am I the only one that thinks $700 million is a bit on the low side? I actually have no statistical or financial proof, but it just seems a bit low for what, 11 parks?

Considering they bought the Paramount Parks for something like $1.24 billion, I'd say yea, it's a little low.

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Postby Angry_Gumball » Wed Dec 16, 2009 11:15 pm

With the new management, I wonder how that will pan out for CGA and the whole 49ers fiasco. Should be interesting, a bit worried now...

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Postby themeparkman25 » Wed Dec 16, 2009 11:23 pm

Yes it is low, but you have to remember that the 700+ million is what they are paying in cash. They also are acquiring the billion plus in debt of the company, which makes the deal seem for more logical. At least that is to my understanding.
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Postby knottslover77 » Thu Dec 17, 2009 12:01 am

robbalvey wrote:^ Especially when you consider that Cedar Fair bought Six Flags World of Adventure for $145 million...

...Just to close it down.


And knotts for about $250million i believe too!

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Postby PKI Jizzman » Thu Dec 17, 2009 12:32 am

robbalvey wrote:^ Especially when you consider that Cedar Fair bought Six Flags World of Adventure for $145 million...

...Just to close it down.


I do think they made the money back by re-opening them at different theme parks across their chain. But if it was worth that much then? Didn't it say CF was worth 700M? It's a pretty big chunk.
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Postby daveydo5172 » Thu Dec 17, 2009 1:03 am

The price tag is very low....but remember, they are also acquiring the billion plus dollars in debt.....so, they actually are paying close to 2 billion....which is still low....

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Postby robbalvey » Thu Dec 17, 2009 1:05 am

Capitalize wrote:
PeoplemoverMatt wrote:What's funny to me is that after all the speculation that Six Flags, SFMM specifically, was going to be sold, we've seen Busch, Universal, and now Cedar Fair all sold first! :lmao:


It wasn't that long ago Six Flags sold off all their international properties except Mexico, then later numerous properties in the States. And of course there was the stockholder revolt which put the new management in place back in 05... So its not like Six Flags has been unscathed the past decade. Just saying.

I get what he's saying, though. Here in So Cal, the whole "possible sale of SFMM" was a huge, HUGE deal!

I think he's just simply saying how 99% of everyone in So Cal really thought (and some still do) that SFMM was going to be sold and turned into a parking lot but yet somehow the park has managed to dodge the bullet while so many other major parks have now been sold or traded since then!

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