The Reuters article was scant on any hard evidence behind the potential move, citing only anonymous sources “familiar with the matter.” WSJ cited similarly unnamed sources, but framed the merger as being close to complete, saying the two sides are “nearing a deal” that “could be finalized as soon as this week assuming the talks don’t fall apart.”
The merger talk sent shares of both companies rising on Wednesday afternoon, according to financial news site Seeking Alpha.
This is not the first time the two regional park companies have been rumored to be in merger talks. Reuters reported in October 2019 that Six Flags had approached Cedar Fair with a deal, but nothing came of it. SeaWorld Entertainment had made a $3.4 billion dollar offer to buy Cedar Fair in early 2022, later raising the bid by $157 million. Cedar Fair ultimately rejected the deal.
Should talks come to fruition this time around, a Cedar Fair-Six Flags merger would represent the largest consolidation in the U.S. theme park market since Cedar Fair acquired the Paramount parks back in 2006.