Six Flags Entertainment Corporation - FUN STOCK NEWS

Six Flags Entertainment (NYSE: FUN) announced the successful merger with Cedar Fair, forming the largest amusement park operator in North America. The merger, effective July 1, 2024, unites Cedar Fair and former Six Flags under the name Six Flags Entertainment

Starting July 2, 2024, the company's common stock will trade on the NYSE under the ticker symbol 'FUN'. Cedar Fair unitholders received one share in the new entity per unit owned, while former Six Flags shareholders received 0.5800 shares per original share. The merger aims to leverage combined assets and intellectual property, enhancing park offerings and performance. The merger is expected to generate strong cash flow, driving investments in parks for better guest experiences and increased spending.

Cedar Fair and Six Flags have announced the satisfaction of regulatory conditions for their previously announced merger of equals. The merger is expected to close on July 1, 2024. Following the closing, the combined entity will be renamed Six Flags Entertainment and will begin trading on the NYSE under the ticker symbol 'FUN' on July 2, 2024. Six Flags President and CEO Selim Bassoul will serve as executive chairman of the combined company's Board of Directors, while Cedar Fair President and CEO Richard Zimmerman will continue in his role. The merger aims to leverage Cedar Fair's reputation for guest experiences and Six Flags' innovative attractions, with an anticipated pro-forma enterprise value of approximately $8 billion.

Cedar Fair and Six Flags have cleared regulatory conditions for their merger of equals.

The merger is scheduled to be completed on July 1, 2024, with the new entity trading on the NYSE under the ticker symbol 'FUN'.

Six Flags President and CEO Selim Bassoul will serve as executive chairman, while Cedar Fair President and CEO Richard Zimmerman will continue in his role for the combined company.

The merger aims to enhance guest experiences by leveraging Cedar Fair’s reputation for exceptional service and Six Flags’ innovative attractions.

The combined company will have a pro-forma enterprise value of approximately $8 billion and will focus on investing in new rides, attractions, food and beverage options, and consumer technologies.

Cedar Fair (NYSE: FUN) has announced a consent payment to be made to holders of its senior notes, following a consent solicitation for amendments to indentures governing these notes. The payment is expected on July 1, 2024, upon or before the completion of Cedar Fair's merger with Six Flags. The payment date may vary based on the actual closing date of the merger, which is contingent on regulatory approvals and other conditions. The consent payment and amendments will become effective upon this payment.

Cedar Fair and Six Flags have announced their senior management team for the combined company that will be formed following their planned merger of equals. Richard Zimmerman, currently the CEO of Cedar Fair, will serve as CEO, while Selim Bassoul, CEO of Six Flags, will be the Executive Chairman. Key roles will include Tim Fisher as COO, Brian Witherow as CFO, Brian Nurse as Chief Legal & Compliance Officer, Christian Dieckmann as Chief Strategy Officer, and Gary Mick as Chief Integration Officer. The merger, expected to close on July 1, 2024, hinges on regulatory conditions. The combined entity will be known as Six Flags Entertainment , headquartered in Charlotte, North Carolina, and will trade under the ticker symbol "FUN" on the NYSE.

Cedar Fair and Six Flags announced key senior management for their planned merger, set to finalize on July 1, 2024. Richard Zimmerman of Cedar Fair will become CEO, while Six Flags' CEO Selim Bassoul will take the role of Executive Chairman. Key positions like COO, CFO, Chief Legal & Compliance Officer, and Chief Strategy Officer will be filled by Cedar Fair executives. Gary Mick from Six Flags will be Chief Integration Officer. The combined company will retain the Six Flags Entertainment name, trade under the ticker 'FUN', and be headquartered in Charlotte, NC, with additional operations in Sandusky, Ohio.

Cedar Fair and Six Flags have announced the expected closing date of their merger to be July 1, 2024. This merger is subject to regulatory and other conditions. Six Flags has declared a special dividend of $1.53 per share, payable on the same date, contingent on the merger's completion. Until then, both companies' stocks will continue trading under their respective symbols 'FUN' and 'SIX'. Post-merger, the combined company will be named Six Flags Entertainment and will trade under the ticker 'FUN'.

Cedar Fair and Six Flags have announced the expected closing date of their merger on July 1, 2024.

The merger is contingent upon regulatory approvals and other conditions.

Six Flags' Board has also declared a special dividend of $1.53 per share, payable on July 1, 2024, for shareholders of record as of June 28, 2024.

This dividend is dependent on the merger's completion.

Upon the merger's closure, Cedar Fair’s units and Six Flags' common stock will be delisted from the NYSE, and the combined company will be renamed 'Six Flags Entertainment ,' trading under the ticker symbol 'FUN' starting July 2, 2024.

Six Flags Entertainment reported first quarter Revenue of $133 million, Net Loss of $83 million, and Adjusted EBITDA loss of $26 million for 2024. Despite a decrease in total revenue compared to 2023, the company sees a promising start to the 2024 season with increased season pass sales and pre-booked group sales. The company remains focused on delivering a world-class experience for guests and is excited to launch new rides and attractions for the peak summer season.