Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Valleyfair owner rejects takeover bid by SeaWorld

Cedar Fair CEO said the deal was not in the company's best interest

 

February 17, 2022

Leila Navidi, Star Tribune file

A worker secures riders of the Corkscrew roller coaster at Valleyfair in Shakopee in May 2019.

Valleyfair owner Cedar Fair has rejected SeaWorld Entertainment Inc.'s takeover offer, effectively ending any possibility of a deal, the parties said.

The sweetened offer was not in Cedar Fair's "best interest," said Cedar Fair Chief Executive Richard Zimmerman on Wednesday.

Zimmerman said the company had first received a $60-a-share offer, which SeaWorld later informally raised to $63. Cedar Fair then rejected the revised bid, which had valued it at $3.58 billion.

https://www.startribune.com/valleyfair-owner-rejects-takeover-bid-by-seaworld/600147482/

 

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