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PKILIfeguard

Rumor: Cedar Fair for Sale?

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There have been rumors around KI that Cedar Fair is up for sale. Now I'm sure that there will be responses saying that this is absurd and they are not... however Dick Kinsel sent a memo to all employees saying that it is company policy not to comment on "speculation and rumors." He also stated that any changes will be announced to employees as soon as possible. These rumors are so big that the CEO of the company sent a memo to all Cedar Fair parks? At any rate, sources (who shall remain anonymous) say Cedar Fair already went on the market, and the offer was later taken off the table. The reasoning behind this is that Cedar Fair, when it acquired Paramount Parks, got in over their heads financially. Shares dropped and profits were and are currently not as expected. They put it on the market to see how much the company could go for. Regardless, there may be changes for the company in the future. Sorry if this topic has already been brought up but more information can be found here:

 

Cedar Fair Comments on Reports of Sale to Destiny Capital

 

NY Post Article

Edited by PKILIfeguard

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