Apollo Nabs Cedar Fair In $2.4B Cash and Debt Deal

Law360, New York (December 17, 2009, 6:14 PM EST) -- Dodging the fate of its bankrupt competitor Six Flags Inc., amusement park owner Cedar Fair LP has reached a deal to sell itself to an affiliate of private equity firm Apollo Investment Corp. for an estimated $2.4 billion, including the assumption of existing debt.

The companies announced the deal Wednesday in which Apollo would pay $11.50 in cash per share of outstanding partnership interests in the the amusement park business, which owns a total of 18 parks, including flagship Cedar Point in its home base of...
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