(Reuters) – SeaWorld Entertainment Inc said on Tuesday its offer to acquire amusement park operator Cedar Fair LP has been rejected and that it does not see a path to a transaction.
Cedar Fair did not respond to a request for comment.
Reuters reported earlier this month that SeaWorld, a Florida-based theme park and entertainment company, had offered to buy Cedar Fair for $3.4 billion in cash, according to a person familiar with the matter.
Cedar Fair had a market value of $3.5 billion, as of Tuesday’s close.
Sandusky, Ohio-based Cedar Fair had rejected a takeover offer of $4 billion, or about $70 per share, from larger peer Six Flags Entertainment Corp in 2019. (https://reut.rs/3HmbhUX)
(Reporting by Anirudh Saligrama in Bengaluru; Editing by Sherry Jacob-Phillips)
