Earlier this month, we reported on SeaWorld’s bid to buy out Carowinds and all other theme parks owned by Cedar Fair for $3.4 billion.
We asked our social media followers what they thought of the deal, and the response was overwhelmingly negative, with many saying they would boycott Carowinds if the deal went through.
Cedar Fair has now officially rejected the offer.
SeaWorld Entertainment Inc. made the announcement in a press release, saying, “in response to inquiries from various stakeholders, we confirm that our offer to acquire Cedar Fair was rejected. Unfortunately, we do not see a path to a transaction.”
The offer would have equaled a price of $60 per share for Cedar Fair (NYSE: FUN), which currently owns and manages 17 theme parks and water parks and 11 resorts and hotels around the country, including Carowinds, Kings Dominion, and Dorney Park:
SeaWorld currently owns and operates 8 theme parks and 4 water parks across the nation. That number would more than double if they were to acquire all of Cedar Fair’s properties.