ORLANDO, Fla. — SeaWorld Entertainment, Inc. has confirmed that an attempt to buy Cedar Fair, a company with amusements parks, water parks and other entertainment venues across North America, has failed.
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Earlier this month, Cedar Fair announced it received an “unsolicited” proposal from SeaWorld to acquire the Sandusky, Ohio-based company and said its board of directors would “carefully review and consider the proposal.”
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But on Tuesday, SeaWorld Entertainment, Inc. released the following statement:
“In response to inquiries from various stakeholders, we confirm that our offer to acquire Cedar Fair was rejected. Unfortunately, we do not see a path to a transaction.”
According to Bloomberg, the takeover bid was estimated to be $3.4 billion.
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Cedar Fair owns and operates 13 properties.
Among them are 11 amusement parks, including Cedar Point in Sandusky, billed as “the roller coaster capital of the world,” Kings Island outside Cincinnati and Knott’s Berry Farm in California.
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