Cedar Fair, Apollo Nix Deal In Wake Of Investor Ire

Law360, New York (April 6, 2010, 1:35 PM EDT) -- Amusement park owner Cedar Fair LP has called off its planned $2.4 billion acquisition by Apollo Investment Corp. and adopted a new shareholder rights plan, citing strong shareholder opposition to the sale.

Cedar Fair announced Tuesday that it and Apollo had mutually called off the deal and that it would pay Apollo $6.5 million for its expenses, as the companies had previously agreed.

“The board has heard from Cedar Fair unit-holders, and it is apparent that the merger transaction does not have the required level of...
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