The amusement park business simply introduced a main deal that is certain to be greater than most rollercoaster drops.
Cedar Honest and Six Flags Leisure agreed on a merger price an estimated $8 billion on Thursday that can tie collectively Six Flags’s iconic parks with these underneath the Cedar Honest license, which embrace in style locations similar to Cedar Level in Ohio, Carowinds within the Carolinas (you’ll be able to stand in each states on the identical time on park grounds), and Kings Dominion in Doswell, Virginia.
“The mix of Six Flags and Cedar Honest will redefine our company’ amusement park expertise as we mix the perfect of each firms,” stated Selim Bassoul, president and CEO of Six Flags, in a firm assertion.
The brand new deal will umbrella 27 amusement parks, 15 water parks, and 9 particular person resort proprieties in North America.
“Our merger with Six Flags will convey collectively two of North America’s iconic amusement park firms to ascertain a extremely diversified footprint and a extra strong working mannequin to boost park choices and efficiency,” stated Richard Zimmerman, president and CEO of Cedar Honest. “Collectively, we may have an expanded and complementary portfolio of engaging property and mental property to ship participating leisure experiences for company.
As each firms are publicly traded, it is estimated that Cedar Honest shareholders will personal roughly 51.2% of all mixed firm shares whereas Six Flags shareholders will personal 48.8% of shares.
Every firm will retain its Mental property for related manufacturers and partnerships, similar to DC Comics and Looney Tunes.
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