Cedar Fair stock jumps 10%, is halted after report of SeaWorld takeover bid : Rashtra News
#Cedar #Fair #stock #jumps #halted #report #SeaWorld #takeover #bid
Visitors at Knott’s Berry Farm ride the HangTime rollercoaster during it’s first day of public operation in Buena Park on Friday, May 11, 2018.
Jeff Gritchen | Orange County Register | Getty Images
Shares of theme park owner Cedar Fair spiked nearly 10% on Tuesday, before being halted, after a report suggested SeaWorld Entertainment had offered to buy out the company for around $3.4 billion.
Bloomberg 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.
This is a breaking news story. Please check back for updates.
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( News Source :Except for the headline, this story has not been edited by Rashtra News staff and is published from a www.cnbc.com feed.)
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