Friday, Dec 02, 2016
One of America's Great Newspapers ~ Toledo, Ohio

Local

Top shareholder urges against Cedar Fair sale

The largest shareholder of Cedar Fair LP has sent out letters to its fellow shareholders that urge them to vote against a planned $2.4 billion purchase of the amusement park chain by private equity fund Apollo Global Management LLC.

Q Funding III and Q4 Funding — a pair of Texas hedge funds controlled by investor Geoffrey Raynor — called the $11.50-a-share purchase price by Apollo a 'bargain basement' offer. Shareholders are to vote March 16 on the sale.

The hedge funds, which control 18.1 percent of Cedar Fair's 55.2 million shares, said, 'In our opinion, this is the exact wrong time to sell the company.'

Cedar Fair did not respond to the letter by Apollo. It had said previously that it had had no contact with the managers of the hedge funds.

Click to comment

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem?

Temporibus autem quibusdam et aut officiis debitis aut rerum necessitatibus saepe eveniet.

Copyright © 2015 Toledo Blade

To Top

Fetching stories…