Cedar Fair to Review Unsolicited Non-Binding Proposal From SeaWorld

Rhea-AI Summary

Cedar Fair, L.P. (NYSE: FUN) has received an unsolicited non-binding acquisition proposal from SeaWorld Entertainment, Inc. The Cedar Fair Board of Directors will review the proposal in consultation with independent legal and financial advisors to determine the best course of action for the company and its unitholders. Unitholders are advised not to take any action at this time. Perella Weinberg Partners L.P. is advising Cedar Fair financially, while Weil, Gotshal & Manges provides legal counsel.

Positive

• Cedar Fair is evaluating an unsolicited acquisition proposal, indicating potential for enhanced market interest.
• Engagement of reputable advisors (Perella Weinberg and Weil, Gotshal & Manges) signals a thorough and professional assessment of the proposal.

Negative

• None.

SANDUSKY, Ohio--(BUSINESS WIRE)-- Cedar Fair, L.P. (NYSE: FUN), a leader in regional amusement parks, water parks and immersive entertainment, today confirmed that it has received an unsolicited non-binding proposal from SeaWorld Entertainment, Inc.

Consistent with its fiduciary duties, and in consultation with its independent legal and financial advisors, the Cedar Fair Board of Directors will carefully review and consider the proposal to determine the course of action that it believes is in the best interest of the Company and its unitholders. Cedar Fair unitholders do not need to take any action at this time.

Perella Weinberg Partners L.P. is serving as financial advisor to Cedar Fair and Weil, Gotshal & Manges is serving as legal counsel.

About Cedar Fair

Cedar Fair, L.P. (NYSE: FUN), one of the largest regional amusement-resort operators in the world, is a publicly traded partnership headquartered in Sandusky, Ohio. Focused on its mission to make people happy by providing fun, immersive, and memorable experiences, the Company owns and operates 13 properties, consisting of 11 amusement parks, four separately gated outdoor water parks, and resort accommodations totaling more than 2,300 rooms and more than 600 luxury RV sites. Cedar Fair’s parks are located in Ohio, California, North Carolina, South Carolina, Virginia, Pennsylvania, Minnesota, Missouri, Michigan, Texas and Toronto, Ontario.

This news release and prior releases are available under the News tab at http://ir.cedarfair.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20220201006036/en/

Investor Contact: Michael Russell, 419.627.2233

Media Contact: Gary Rhodes, 704.249.6119

https://ir.cedarfair.com

Source: Cedar Fair, L.P.

FAQ

What recent proposal did Cedar Fair (FUN) receive?

Cedar Fair received an unsolicited non-binding proposal from SeaWorld Entertainment, Inc.

What will Cedar Fair's Board do regarding the SeaWorld proposal?

The Cedar Fair Board will carefully review the proposal with independent legal and financial advisors.

Should Cedar Fair unitholders take action on the SeaWorld proposal?

Cedar Fair unitholders are advised not to take any action at this time.

Who is advising Cedar Fair on the proposal from SeaWorld?

Cedar Fair is advised by Perella Weinberg Partners L.P. for financial matters and Weil, Gotshal & Manges for legal counsel.