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Cedar Fair to be Sold to Apollo ~Not anymore pg.3 for update
12-17-2009, 03:31 PM
Post: #16
 
You should also be selling today because its going to be worth nothing very very soon!

I am excited about this because Apollo is a very cash heavy privit company. They are taking Cedar Fair back to the privet sector and getting ride of the debt load the chain carries. The company has been in a very large debt hole since they bought Paramount. They were going to have to start paying large chunks back in the next few years, and by having Apollo buy them out, Apollo is getting the debt and has the funds to take care of it.

I think this will really make Cedar Fair a stronger company. From what I read the managment is staying the same. The chain has been looking for something to help the debt load for a few years now. There were talks of selling three parks.. then there were talks to bring in bigger investors... and thats basicly what they have done. Apollo has the resorcies to let Cedar Fair run with the ball.

I am really excited to see what can happen to the parks. Really excited!
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12-17-2009, 03:38 PM
Post: #17
 
Clint Novak Wrote:You should also be selling today because its going to be worth nothing very very soon!

Thats not true, if I remember correctly, didn't it say they were paying out 11.50 per unit?
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12-17-2009, 03:57 PM
Post: #18
 
LoL yes.. because there buying out the share.. They are taking the company privet by buying out all the shares at a cretin price, so they can bring the company privet.
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12-17-2009, 03:58 PM
Post: #19
 
Lance at Scremscape.com

In another shocking bit of news, it seems Cedar Fair may have found that cash rich investment partner they were looking for shortly after swallowing up the Paramount Parks. According to this news article a group called Apollo Global Management has worked a deal to actually purchase Cedar Fair entirely, paying out their stock holders cash for each share, which will then allow the company to go Private… away from the endless and unfriendly waves of the no-longer stable stock market. Cedar Fair’s Board of Directors has already approved of the deal, so it comes down to the shareholders now to give the nod, which they likely will in exchange for the buy-out cash offer. Going private seems to be the new hot thing for theme parks I’m guessing, as we saw this happen earlier this year with Universal Studios Japan, along with the closing of the deal that saw Blackstone take home the former Busch Entertainment parks. Anyone know anything about this Apollo company? They’ve been off my radar, so I know nothing about them yet. I’m guessing this year may end up being very similar to the Blackstone buyout as well, where Apollo will become the owner, but keep all the key Cedar Fair management in place, or at least until Kinzel’s next retirement deadline which I believe is looming ahead at the end of the 2011 season.
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12-17-2009, 04:15 PM
Post: #20
 
Wow, I think this is a good thing. More money for parks and if they are smart about it profits can be made. The debt will be relieved, and I am excited for this change.
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12-17-2009, 04:28 PM
Post: #21
 
Heres a video with Kinzel saying Cedar Fair HQ is staying
<!-- m --><a class="postlink" href="http://www.sanduskyregister.com/video/?topVideoCatNo=130127&&clipId=6620779&autoStart=true">http://www.sanduskyregister.com/video/? ... Start=true</a><!-- m -->
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12-20-2009, 02:36 PM
Post: #22
 
Check out these articles:

<!-- m --><a class="postlink" href="http://www.sanduskyregister.com/articles/2009/12/20/front/1812772.txt">http://www.sanduskyregister.com/article ... 812772.txt</a><!-- m -->

<!-- m --><a class="postlink" href="http://www.morningjournal.com/articles/2009/12/20/news/mj2051547.txt">http://www.morningjournal.com/articles/ ... 051547.txt</a><!-- m -->

<!-- m --><a class="postlink" href="http://www.morningjournal.com/articles/2009/12/20/news/mj2051746.txt">http://www.morningjournal.com/articles/ ... 051746.txt</a><!-- m -->


Just a few articles about the upcoming sale of CF
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12-21-2009, 08:33 PM
Post: #23
 
Who thinks that this deal will be bad for Kings Dominion? Who thinks it will be good? What effects will come from this deal?

Looking at Apollo's startegies, I think they will take a containment stragtegy. Stop the money from leaking. I think the best way to do that would be to downsize by ridding themselves of the money leakers. CGA and MA both are "decent" parks but they don't retain a moderate attendance and produce.

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12-22-2009, 06:44 PM
Post: #24
 
^ Well, there are rumors that CGA will turn into a parking lot for the 49ers. Depending on how much money the football team pays them for their 8 home games a year (plus preseason and playoffs if any), Apollo may just take the money and run. Of course, how much is the team willing to pay for a parking lot? That park was sold with 4 other parks for well over a billion dollars just a few years ago... and, sure, it's not the biggest park in the chain, but it isn't cheap either and shouldn't be treated that way.
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01-11-2010, 09:35 PM
Post: #25
 
I wouldn't be happy if any park was closed to be made a parking lot, just my humble opinion
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02-10-2010, 05:27 PM
Post: #26
 
kdisdabomb Wrote:I wouldn't be happy if any park was closed to be made a parking lot, just my humble opinion
I agree, its just putting the park to shame.

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02-15-2010, 02:50 PM
Post: #27
 
Now I am hearing that the sale may not go through...

Look as far as I am concerned, Cedar Fair needs this if they are going to survive, and with declining park attendance and revenues, they need the money more and more
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02-15-2010, 02:57 PM
Post: #28
 
^ Where are the year-to-year attendance figures?
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02-15-2010, 06:10 PM
Post: #29
 
<!-- m --><a class="postlink" href="http://www.tradingmarkets.com/news/stock-alert/fun_cedar-fair-has-profit-of-35-4m-in-down-year-operating-expenses-attendance-decline-774102.html">http://www.tradingmarkets.com/news/stoc ... 74102.html</a><!-- m -->
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02-15-2010, 06:29 PM
Post: #30
 
kdisdabomb Wrote:Now I am hearing that the sale may not go through...

Look as far as I am concerned, Cedar Fair needs this if they are going to survive, and with declining park attendance and revenues, they need the money more and more



I agree the parks need to survive but this is deff. not a good thing for the shareholders... I can be sympathetic to them because I am going through allot with my six flags stock. Now the company is going thru bankruptcy although they may pull out of it shortly if they can get the debt refinanced to pay their suppliers and other loans. When I purchased my stock it was worth a whole lot more than it is today.. :oops: In any event Cedar fair stock was always great at paying back dividends and now to get offered such a lousy amount is just bad business.. Especially since they are offering 1/4 of what their stock was worth 2-3 years ago... These people who put their faith in the company should be able to have a choice on weathering the storm thru the long haul until the economy will push the parks into a better financial place. This has to be a decision of the shareholders, they are the ones who will really suffer in this deal.

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