Shares of Cedar Fair spiked nearly 10% after a report said SeaWorld Entertainment had offered to buy out the company for around $3.4 billion.
reported that SeaWorld, which also owns Busch Gardens, made a bid of around $60 per share for the Knott's Berry Farm owner, citing people familiar with the matter. Cedar Fair opened Tuesday at $50 per share and rose to $54.51 before trading was halted for news.
According to the publication, deliberations are ongoing and it is unclear if Cedar Fair will accept the deal.
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