SeaWorld wants to buy Cedar Point's parent company for $3.4 billion
The move comes two years after the operator of theme parks in the U.S. and Canada rebuffed an offer from Six Flags. Joe Kleiman is a senior correspondent with the trade publication InPark Magazine. He believes this proposal is being driven by the COVID-19 pandemic.
“It’s really a thing about, I think, consolidation for security and also what can they do to cut costs during the merger that eventually will result in increased profits,” Kleiman said.
He says a merger could result in the sale of smaller Cedar Fair parks as well as a consolidation of executive positions. Cedar Fair’s board of directors is reviewing the offer. If the board decides to move forward, the deal will ultimately be subject to shareholders' approval.