Cedar Fair, L.P. and Six Flags Entertainment Corporation (NYSE: SIX) (“Six Flags”) announced today that they have satisfied the regulatory conditions for their previously announced merger of equals. This approval allows the companies to move forward with the merger, with the closing expected on July 1, 2024, after meeting the remaining customary closing conditions. Post-merger, the combined entity will be renamed “Six Flags Entertainment Corporation,” and its common stock is set to begin trading on the New York Stock Exchange under the ticker symbol “FUN” on July 2, 2024.
Six Flags President and CEO Selim Bassoul, who will become the executive chairman of the combined company’s Board of Directors, expressed excitement about the merger, highlighting a smooth review process with the Department of Justice. Cedar Fair President and CEO Richard Zimmerman, who will maintain his role in the merged company, emphasized the merger’s potential to drive growth by combining Cedar Fair’s renowned guest experiences with Six Flags’ innovative attractions. The combined company is expected to have an enterprise value of approximately $8 billion, enhancing financial flexibility for investments in new rides, attractions, and state-of-the-art consumer technologies.
Cautionary Information Regarding Forward-Looking Statements
This announcement includes “forward-looking statements” within the meaning of federal securities laws, including Sections 27A of the Securities Act of 1933 and 21E of the Securities Exchange Act of 1934. These statements address future events or developments that Cedar Fair or Six Flags expects or anticipates, identified by terms like “anticipate,” “believe,” “expect,” “future,” “guidance,” “plan,” and similar expressions. These statements involve uncertainties, including risks related to the merger’s completion, anticipated benefits, legal proceedings, market reactions, and integration challenges. Factors that could cause actual results to differ materially include the risks outlined in Cedar Fair’s and Six Flags’ recent SEC filings.
No Offer or Solicitation
This communication is for informational purposes only and does not constitute an offer to sell or buy any securities related to the merger. Any securities offer will be made through a prospectus meeting the requirements of Section 10 of the Securities Act of 1933.
Important Additional Information
In connection with the merger, CopperSteel Holdco, Inc. (“Holdco”) filed a registration statement on Form S-4 with the SEC, which became effective on January 31, 2024. Investors are encouraged to read this registration statement and other relevant documents filed with the SEC as they contain important information about the merger. These documents are available for free on the SEC’s website at www.sec.gov or through the investor relations departments of Cedar Fair and Six Flags. Information on Cedar Fair’s or Six Flags’ websites is not incorporated into this communication.
