According to Reuters, Cedar Fair rebuffed the offer as ‘inadequate’. Consolidation in a fragmented industry makes sense, and it's easy to see why Six Flags would want the Cedar Fair collection of parks. Cumulative Growth of a $10,000 Investment in Stock Advisor, Why Six Flags, Cedar Fair, and SeaWorld Stock Dropped Today @themotleyfool #stocks $SIX $FUN $SEAS, Why Shares of Six Flags Entertainment Popped 11.1% on Wednesday, Six Flags Entertainment Corp (SIX) Q4 2020 Earnings Call Transcript. Cedar Fair couldn't immediately be reached for comment. How to Play. The S&P 500 was 0.5% higher. Returns as of 03/05/2021. Go Orange. And if fears of getting sick lead more people to steer clear of amusement parks in the fall, the industry's struggles could be even worse than feared. If your family is looking for things to do in the San Francisco Bay area, you’ve come to the right place. Government officials, desperate to minimize the spread of the virus, are considering new lockdown restrictions. There is minimal overlap between the geographical reach of the two players. He earned his BBA and MBA from the University of Miami, and he splits his time living in Miami, Florida and Celebration, Florida. SeaWorld, Six Flags, and Cedar Fair, meanwhile, have gone into survival mode. Stock Advisor launched in February of 2002. Joe honed his investing skills as an analyst for Stock Advisor, Supernova, and Fool One. Amusement park stocks fell on Monday, as rising COVID-19 case counts threaten to derail the beleaguered industry's recovery. By Jeff Darcy, cleveland.com CLEVELAND, Ohio - Cedar Fair in … Are the following coasters at a Six Flags park or at a Cedar Fair park? In essence, Cedar Fair is roughly 1/2 the number of parks overall... and yet generating nearly the same operating revenues as Six Flags. Cedar Fair reportedly thought it wasn't being compensated appropriately for giving up that status. Citing the Cleveland area as their "most difficult market", Six Flags sold Worlds of Adventure to Cedar Fair in March 2004. He battle-tested his investment philosophy and strategies as portfolio manager of Tier 1, a market-crushing Motley Fool real-money portfolio that delivered 24.58% annualized returns during its existence. Six Flags’ takeover bid is a “not-so-tacit admission from Six Flags that Cedar Fair is an attractive asset. A great time is waiting for you at California's Great America amusement park. Is Disneyland Finally One Step Closer to Opening? Six Flags has said they were not planning to counter the offer. Why Shares of Six Flags Entertainment Plunged 10.5% Today, Six Flags Entertainment Corp (SIX) Q3 2020 Earnings Call Transcript, Copyright, Trademark and Patent Information. Support Sporcle. Six Flags is obviously no longer in a position to woo Cedar Fair, especially since its own stock is now a rapidly depreciating asset in a transaction. Cumulative Growth of a $10,000 Investment in Stock Advisor, 3 Reasons Cedar Fair Shot Down Six Flags @themotleyfool #stocks $SIX $FUN, Why Shares of Six Flags Entertainment Popped 11.1% on Wednesday, Six Flags Entertainment Corp (SIX) Q4 2020 Earnings Call Transcript. Late in 2019, Cedar Fair rejected a $4 billion cash-and-stock offer with Six Flags. By the close of trading, shares of SeaWorld (NYSE:SEAS), Six Flags (NYSE:SIX), and Cedar Fair (NYSE:FUN) were down 9.8%, 7.6%, and 4.1%, respectively. Cedar Fair itself is spared the burden of federal taxes by passing on its profits to its stakeholders, but obviously this is not a deal-breaker. (Interestingly, or perhaps troublingly, SeaWorld's CEO recently stepped down after … The deal initially valuing Cedar Fair at … However, it's easy to see why Cedar Fair didn't want to be tethered to a potentially weak Six Flags in the months it would take for the deal to close. Surging COVID-19 cases in several European countries threaten to drive those figures even higher. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. It was a wild week for investors in the amusement park industry. Both names have been posting solid earnings that makes their bountiful dividend yields very attractive. And that was a premium above Cedar Fair's market cap. Capacity restrictions and increased coronavirus-related cleaning and safety expenses are likely to continue to weigh on their profits in the quarters ahead. Six Flags-Cedar Fair theme park merger appears dead: ‘There is no bid’ The amusement park rivals, owners of Knott's Berry Farm and Magic Mountain, have been battling for … Six Flags or Cedar Fair: Which Stock Will Provide a Better Ride for Investors? Speculation that the amusement park side would eventually close began after Cedar Fair relocated two major roller coasters – Steel Venom and X-Flight – to other parks prior to the 2007 season. This content may not be rewritten, republished, or redistributed without prior consent. The problem here is that time and history are on Cedar Fair's side. Bring the family and enjoy the best attraction in California's Bay Area! We’re motley! The all-stock deal would depreciate in value. Cedar fair I have a bias towards since I work at cedar point, but they appear to have a very promising future. Stock Advisor launched in February of 2002. There are no guarantees that Cedar Fair will move higher in the next quarter, but that has happened 90% of the time. Six Flags stock would go on to rise on Friday after the offer was reportedly rebuffed. The first thing we did at Halloween Haunt was a terrific backstage tour of Backwoods with the lights on, done by Clayton Lawrence, who has now moved on from California’s Great America and works at Cedar Fair due to his great jobs on many events at California’s Great America. Returns as of 03/05/2021. The deal initially valuing Cedar Fair at $70 per unit was reportedly part-cash but mostly stock. I think that giving out 2 coasters each year is working well for them. This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. Six Flags Discovery Kingdom is thrilled to welcome to our amusement park guests from all around Northern California, and a very special welcome to all of our international guests. For these reasons, Six Flags, Cedar Fair, and SeaWorld are likely to remain high-risk stocks until a safe and effective vaccine or treatment for COVID-19 is developed. Six Flags declined comment. Can you name the Name all Cedar Fair, Herschend, and Six Flags Coasters? Cedar Fair LP has rejected Six Flags Entertainment Corp’s $4 billion cash-and-stock offer to merge the companies. Cedar Fair stock was down 0.5% to $33.13 in morning trading, while Six Flags was off 6.1% to $25.67. Now, Joe’s mission is to pass on what he’s learned -- and what he continues to learn -- as a contributing writer to Fool.com. Let's go over the reasons the perfect pairing on paper apparently failed in application. Get the ad-free and most optimal, full-featured Sporcle experience. Cedar Fairs numbers for the year were spectacular, featuring attendance, revenue and overall spending leaps across the board. Cedar Fair … We’re motley! Stock deals can be problematic for acquisitions that take time to close, and this deal certainly would have to clear antitrust hurdles. And Six Flags accounted that the entire Cedar Fair chain, including Knott's, Cedar Point, Canada's Wonderland, etc., was worth just $4 billion. Cedar Fair (FUN-2.8%) turned down a $4B cash-and-stock offer from Six Flags Entertainment (SIX +2.2%), sources tell Reuters. by NotFromFrozen Plays Quiz not verified by Sporcle . Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. The transition would be easier during the seasonal lull, and if Six Flags wanted to catch Cedar Fair at its most vulnerable -- with fears of a recession bubbling up ahead of next year's season for an industry that lives and dies by locals with money to spend -- why wouldn't it try now? The move would have united two of the largest theme park operators in the US. The industry has been devastated by coronavirus-related park closures and reduced crowds during its key summer season. Cedar Fair shares climbed to an intraday high of $64.86, … The company did, however, leave the door open for a future deal “We are always assessing opportunities for which there is a compelling rationale,” said Six Flags CEO Reid-Anderson during the company’s fiscal third-quarter 2019 earnings call. In addition, they are making more money per person in the parks that Six Flags is, and with significantly higher attendance per park overall. Write to Teresa Rivas at [email protected] Six Flags had offered to acquire Cedar Fair for around $70 per share, to be paid for the most part by using Six Flags shares as currency, but also funded with a small cash component, the sources said. Cedar Fair is considering Six Flags’ cash-and-stock offer, and there is no certainty that a deal will be reached, the sources said. Cedar fair, seaworld, six flags. The only states where Six Flags and Cedar Fair parks compete are California and Missouri. Cedar Fair was simply trying to negotiate a better price, something that Cedar Fair investors should be grateful for and Six Flags' board should've been prepared to see happen. Market data powered by FactSet and Web Financial Group. If Cedar Fair thinks its units will be trading higher come early next year there's no point in giving in now. Shares of Six Flags would likely sink following the buyout, and surely enough we did see the stock dip on Wednesday after the initial acquisition report surfaced. Six Flags and Cedar Fair are the two largest theme park chains in North America in terms of the number of parks they operate. Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer. Knott’s Berry Farm (Los Angeles, CA) Case in point here. Image source: Getty Images. He's been an analyst for Motley Fool Rule Breakers and a portfolio lead analyst for Motley Fool Supernova since each newsletter service's inception. Knott’s is definitely on the smaller side and … There is a nugget of truth here. U.S. amusement park operator Cedar Fair has rejected a $4 billion cash-and-stock offer from larger peer Six Flags as inadequate, people familiar with the matter said on Friday. It may be little more than a fluke, but Cedar Fair units have moved higher during the first quarter in nine of the past 10 years. Details of the offer could not be learned. Cedar Fair, owner of Cedar Point, rejected a $4 billion purchase off from Six Flags, which had filed for bankruptcy in 2009. For easy reference, I’ve included lists of the parks in the two chains: He writes about Disney, Universal, Six Flags, SeaWorld, Cedar Fair and Legoland parks in Southern California, across the United States and around the world. Six Flags, Cedar Fair, and SeaWorld have all suffered heavy losses in recent quarters. As a … The news agency attributed … The gains were swiftly surrendered on Friday, after Reuters followed up to report that Cedar Fair had rebuffed the offer allegedly valued at $4 billion. Cedar Point, founded in 1870, is one of the country’s oldest operating amusement parks. Why Shares of Six Flags Entertainment Plunged 10.5% Today, Six Flags Entertainment Corp (SIX) Q3 2020 Earnings Call Transcript, Copyright, Trademark and Patent Information. It would take a really juicy premium to convince Cedar Fair to bow out now, and Six Flags doesn't have that kind of ammo in its leveraged state. Seaworld nearly swapped with six flags, but they seem to be redeeming themselves. It's easy to see why Cedar Fair would make a move now, as most of the the Six Flags and Cedar Fair parks wind down their operations outside of Halloween-themed haunt events on weekends. Cedar Fair (NYSE:FUN) moved higher on Wednesday after a Reuters report claiming that Six Flags Entertainment (NYSE:SIX) was offering a cash and stock deal to acquire the smaller regional amusement park chain. Most of the three-month gains have been double-digit pops, including a 13% surge earlier this year. Cedar Fair is set up as a master limited partnership, passing through the lion's share of its earnings to investors in the form of tax-advantaged distributions. Based in Grand Prairie, Texas, Six Flags has 26 parks across the United States, Mexico and Canada. Six Flags’ comprehensive reopening plan, which the company developed in consultation with epidemiologists, meets or exceeds federal, state, and local guidelines for sanitization, hygiene, and social distancing protocols. The antitrust issues wouldn't be too problematic. Now, a new wave of COVID-19 cases threatens to derail park operators' upcoming Halloween festivities. This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. Cedar Fair trades in units, not shares. Forced Order Minefield Support Sporcle. Capacity restrictions and increased coronavirus-related cleaning and … Watch out, cause once you miss, it's game over! The Six Flags-Cedar Fair rivalry is best encapsulated in the showdown between Top Thrill Dragster and Kingda Ka, two of the most impressive roller coasters in the world. It's also easy to see why Cedar Fair refused those advances, according to Reuters' sources. Nearly 1 million people have died from the coronavirus, including approximately 200,000 Americans. Since 1995, Rick has been writing for The Motley Fool, where he's a consumer and tech stocks specialist. Is Disneyland Finally One Step Closer to Opening? Market data powered by FactSet and Web Financial Group. A combination of Six Flags and Cedar Fair would result in some compelling cost-saving synergies, but it would've weighed on the value of the acquirer's stock as currency. Well, Reuters delivered that this morning, with a report that Six Flags has made a cash-and-stock offer to acquire Cedar Fair. Park Journey is not affiliated with Six Flags Corporation, Cedar Fair Entertainment Company, NBCUniversal/Comcast, The Walt Disney Company, Sea World Parks and Entertainment, Merlin Entertainments Group or any other theme park or any theme park subsidiaries. Cedar Fair is also coming off of another strong quarter, setting fresh 52-week highs last week before any of the buyout activity. None of this bodes well for amusement park companies, who rely on huge crowds funneling into their rides and attractions to generate a profit. Park reopening dates are subject to change based on local, state, and federal guidelines related to COVID-19. Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer. Yes, that's a long time with more than 20,000 bylines over those 24 years. Despite having most of it attractions closed ruing the first quarter, investors tend to warm up to Cedar Fair ahead of scream machines firing up as the weather heats up in the springtime. Rate 5 stars Rate 4 stars Rate 3 stars Rate 2 stars Rate 1 star .
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