CHARLOTTE — Shares of Carowinds parent Cedar Fair dropped after word late Tuesday that the company has turned down a takeover offer from SeaWorld Entertainment.
As previously reported, Cedar Fair had confirmed in early February that it was weighing an unsolicited bid from Orlando, Florida-based SeaWorld. The deal was said to value the company at about $3.4 billion, or $60 per share, according to a Bloomberg report at the time.
The Wall Street Journal reports now SeaWorld has confirmed that Cedar Fair rejected its offer. Cedar Fair declined to comment.
(Watch the video below: Carowinds owner weighs takeover bid from SeaWorld)
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