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The amusement park business simply introduced a significant 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 below the Cedar Honest license, which embody standard locations corresponding to Cedar Level in Ohio, Carowinds within the Carolinas (you may stand in each states on the similar time on park grounds), and Kings Dominion in Doswell, Virginia.
“The mixture of Six Flags and Cedar Honest will redefine our friends’ amusement park expertise as we mix the very best of each firms,” mentioned Selim Bassoul, president and CEO of Six Flags, in an organization assertion.
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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 carry collectively two of North America’s iconic amusement park firms to determine a extremely diversified footprint and a extra strong working mannequin to reinforce park choices and efficiency,” mentioned Richard Zimmerman, president and CEO of Cedar Honest. “Collectively, we may have an expanded and complementary portfolio of engaging belongings and mental property to ship partaking leisure experiences for friends.
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, corresponding to DC Comics and Looney Tunes.
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