SANDUSKY, Ohio — The courtship between two of America's largest theme park operators is officially over.
In a brief statement released Tuesday evening, SeaWorld Entertainment confirmed Cedar Fair has rejected its takeover offer, worth a reported $3.4 billion. The company added it "unfortunately ... [does] not see a path to a transaction."
News of SeaWorld's apparent interest in buying Cedar Fair — which owns Sandusky's Cedar Point as well as King's Island and other parks around the country — first became public two weeks ago when Bloomberg detailed negotiations between the two sides.
Cedar Fair later told WKYC in Cleveland it would "carefully review and consider the proposal to determine the course of action that it believes is in the best interest of the Company and its unitholders."
Had the deal gone through, SeaWorld Entertainment would have moved Six Flags to become the fifth-largest theme park company in the world.
