Cedar Fair stock jumps 10%, is halted after report of SeaWorld takeover bid

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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.

Cedar Fair is one of the largest regional theme park operators in the world. Its properties include traditional amusement parks like California Great America, Cedar Point, Carowinds and Kings Dominion, as well as water parks, like Schlitterbahn, and two sports complexes. The company also operates 11 hotels.

This is a breaking news story. Please check back for updates.

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