Six Flags shareholders approve theme park merger
WASHINGTON, D.C. (QUEEN CITY NEWS) — Carowinds’ parent company is one step closer to acquiring another group of theme parks.
On Tuesday, shareholders for Texas-based Six Flags voted to approve a merger between the company and Ohio’s Cedar Fair, which owns Carowinds. There were 67.3 million shares represented in voting for the move, with just 195,000 against it.
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Cedar Fair’s shareholders do not have to vote for the merger. If approved, stocks in the newly formed company will be split almost 50-50.
The U.S. Department of Justice is now reviewing the merger. Authorities are looking to see how one large company could affect the amusement park industry and visitor costs.
The newly formed company will own 27 amusement parks, 15 water parks, and nine resorts across North America. It will move its headquarters to Charlotte.
The companies’ plans were announced last fall. Both say they plan to comply with any DOJ requests.
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