On Wednesday, December 16, Cedar Fair announced that it had entered into a definitive merger agreement to be acquired by an affiliate of Apollo Global Management, a leading global alternative asset manager.
Under the terms of the agreement, Cedar Fair unitholders will receive $11.50 in cash for each Cedar Fair limited partnership unit that they hold, and the company will no longer be publicly traded. The board of directors of Cedar Fair has unanimously approved the merger agreement and will seek the approval of two-thirds of the existing unitholders.
Apollo Global Management is a leading global alternative asset manager with offices in New York, Los Angeles, London, Singapore, Frankfurt and Mumbai. Among the company's diverse holdings are AMC Entertainment, Norwegian Cruise Line, and Harrah's Entertainment.
Cedar Fair owns and operates 11 amusement parks including Cedar Point, Kings Island and Knott's Berry Farm.
The entire press release is on the Cedar Fair Web site.