Dorney Park owner merges with Six Flags

The owner of Dorney Park and Wild Water Kingdom has completed a merger of equals with Six Flags Entertainment Corp.

The merger with Cedar Fair, which has owned the Allentown amusement park since 1992, creates Six Flags Entertainment Corporation, according to a press release from the two organizations.

Cedar Fair’s units and shares of Former Six Flags’ common stock ceased trading at the close of the New York Stock Exchange on July 1. Beginning July 2, shares of Six Flags Entertainment Corporation’s common stock will start trading on the NYSE under the ticker symbol “FUN.”

Under the terms of the merger agreement, Cedar Fair unitholders received one share of common stock in Six Flags Entertainment Corporation for each unit owned, and Former Six Flags shareholders received 0.5800 shares of common stock in Six Flags Entertainment Corporation for each share owned, the organizations said.

“Today marks a significant milestone for our company, shareholders, guests and associates, unlocking higher value and greater opportunities to deliver engaging entertainment experiences,” said Richard Zimmerman, president and chief executive officer of Six Flags Entertainment Corporation.

“Our merger establishes a new Six Flags Entertainment Corporation with a highly diversified footprint and robust operating model, enhancing park offerings and performance through the complementary portfolio of attractive assets and intellectual property from each of Cedar Fair and the former Six Flags,” Zimmerman said. “The combination also enhances the financial profile of the company with strong cash flow generation to accelerate investments in our parks to delight our guests, driving increased levels of demand and in-park value and spending.”

Selim Bassoul, executive chairman of the board of directors of Six Flags Entertainment Corporation, said, “We believe that by combining the best ideas and most successful entertainment practices of both Six Flags and Cedar Fair, the new Six Flags can deliver a superior level of joy and excitement that has yet to be experienced by regional park guests.

“We are excited to unite the Cedar Fair and Six Flags teams to capitalize on the tremendous growth opportunities and operational efficiencies of our more extensive entertainment portfolio,” Bassoul said.

Each park in the combined company’s portfolio will retain their legacy branding with no changes to park names currently being planned or contemplated.

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