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Economy

SeaWorld wants to buy Cedar Point's parent company for $3.4 billion

an image of Cedar Point
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Cedar Point amusement park in Sandusky could become a property of Sea World Entertainment, if an acquisition deal is approved.

SeaWorld is considering a $3.4 billion bid to acquire the parent company of Cedar Point. Cedar Fair has confirmed it’s received an unsolicited offer from SeaWorld Entertainment.

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.

Joe Kleiman: SeaWorld's $3.4 billion proposal to Cedar Fair

“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.