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The Six Flags and Cedar Fair merger has cleared the final hurdle and received regulatory approval

Posted on by darion

The Justice Department has given the green light to Arlington-based amusement park giant Six Flags to complete its merger with Schlitterbahn water park and resort owner Cedar Fair.

This was essentially the company’s final hurdle in completing its merger with Cedar Fair. This puts both companies on track to meet their July 1 target date. The new combined company will begin trading on the New York Stock Exchange on July 2 under Cedar Fair’s FUN ticker.

Theme park operators Six Flags, Cedar Fair are merging and moving headquarters to Charlotte

The new company will cause several changes in all companies. Six Flags will move its headquarters from Arlington to Charlotte, North Carolina, and the new company will be headed primarily by Cedar Fair executives.

Four out of five people on the company’s board will be directors of Cedar Fair. The one who stands out is Gary Mick, the CFO and executive vice president of Six Flags. Selim Bassoul, president and CEO of Six Flags, will become the new company’s executive chairman on its Board of Directors.

“As our collective team pauses to celebrate this important milestone, together we look forward to embarking on the next chapter of our journey to offer millions of guests across North America unrivaled family entertainment filled with fun, excitement and memories that will last a lifetime.” Bassoul said in a press release.

Cedar Fair did not respond to an interview request Dallas Morning News at the time of publication.

The new combined company will face stiff competition in the rest of the country as it tries to keep up with Walt Disney World and Universal Studios. By 2026, Universal will open a $150 million children’s themed facility in Frisco.

The combination of 42 parks and nine resorts in 17 states will enable the company to continue to expand its offerings to customers, said the new company’s president and CEO Richard Zimmerman, who currently serves in the same role at Cedar Fair, said.

“With an expected pro forma enterprise value of approximately $8 billion, the combined company is well positioned to drive future growth,” he said. “Our increased financial flexibility will enable us to invest in new rides, attractions, food and beverage options and cutting-edge consumer technologies, ensuring continuous improvement and innovation, and each visit to the park will be more exciting and memorable than the last.”

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