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Cedar Truthful inventory jumps, is halted after report of SeaWorld takeover bid

Guests at Knott’s Berry Farm experience the HangTime rollercoaster throughout it is first day of public operation in Buena Park on Friday, Could 11, 2018.

Jeff Gritchen | Orange County Register | Getty Photographs

Shares of theme park proprietor Cedar Fair spiked practically 10% on Tuesday, earlier than being halted, after a report prompt SeaWorld Entertainment had provided to purchase out the corporate for round $3.4 billion.

Bloomberg reported that SeaWorld, which additionally owns Busch Gardens, made a bid of round $60 per share for the Knott’s Berry Farm proprietor, citing folks aware of the matter. Cedar Truthful opened Tuesday at $50 per share and rose to $54.51 earlier than buying and selling was halted for information.

Based on the publication, deliberations are ongoing and it’s unclear if Cedar Truthful will settle for the deal.

Cedar Truthful is among the largest regional theme park operators on this planet. Its properties embrace conventional amusement parks like California Nice America, Cedar Level, Carowinds and Kings Dominion, in addition to water parks, like Schlitterbahn, and two sports activities complexes. The corporate additionally operates 11 lodges.

It is a breaking information story. Please test again for updates.

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