The U.S. Department of Justice has approved the merger of Cedar Fair and Six Flags, the companies announced this morning.
The approval means that the proposed merger of the two amusement park companies may close on Monday, creating the new Six Flags Entertainment Corporation. The new Six Flags will be led by Cedar Fair's current CEO and much of its management.
“We are pleased to have successfully concluded a very fair and constructive review process with the Department of Justice and excited to make our merger official on Monday," current Six Flags President and CEO Selim Bassoul, who will serve as executive chairman of the combined company's Board of Directors, said. "As our collective team pauses to recognize this important milestone, together we are eager to embark on the next chapter of our journey to offer millions of guests across North America unparalleled, family-focused entertainment full of fun, thrills and lifetime memories."
"With an anticipated pro-forma enterprise value of approximately $8 billion, the combined company is well positioned to drive future growth," current Cedar Fair CEO Richard Zimmerman, who will be CEO of the new company, said. "Our enhanced financial flexibility will enable us to invest in new rides, attractions, food and beverage options, and state-of-the-art consumer technologies, ensuring continuous improvement and innovation, and that each park visit is more exciting and memorable than the last."
The DOJ had announced earlier this year that it was reviewing the proposed deal, which would create a mammoth chain of amusement and water parks at more than 30 sites across North America. With approval, the company appears set to retain all of those properties, which include Knott's Berry Farm and Six Flags Magic Mountain in Southern California - the most attended parks in each of the current chains.
To keep up to date with more theme park news, please sign up for Theme Park Insider's weekly newsletter.
And to help support Theme Park Insider while saving money on discounted theme park tickets, please visit our international and U.S. attraction ticket partners.
This article has been archived and is no longer accepting comments.
