Recent takeover target FUN has hit resistance but could present some nice opportunities on a break above $59.
Cedar Fair (FUN -2.8%) turned down a $4B cash-and-stock offer from Six Flags Entertainment (SIX +2.2%), sources tell Reuters.
The theme park operator is said to have considered the ~$70 deal price plus some cash as inadequate.
Six Flags is not expected to come in with a new offer.
Cedar Fair is back to $59.26, still above where FUN shares stood when the Six Flags story first broke.
Currently has a average analysts price target of $62 and a buy rating.
P/E ratio 19.42
Company profile
Cedar Fair LP engages in the operation of amusement parks, outdoor and indoor water parks, and hotels. Its amusement parks include Cedar Point, Kings Island, Canada's Wonderland, Dorney Park and Wildwater Kingdom, Valleyfair, Kings Dominion, Worlds of Fun, Knott's Berry Farm, and California's Great America. The company was founded on May 13, 1983 and is headquartered in Sandusky, OH.
Cedar Fair (FUN -2.8%) turned down a $4B cash-and-stock offer from Six Flags Entertainment (SIX +2.2%), sources tell Reuters.
The theme park operator is said to have considered the ~$70 deal price plus some cash as inadequate.
Six Flags is not expected to come in with a new offer.
Cedar Fair is back to $59.26, still above where FUN shares stood when the Six Flags story first broke.
Currently has a average analysts price target of $62 and a buy rating.
P/E ratio 19.42
Company profile
Cedar Fair LP engages in the operation of amusement parks, outdoor and indoor water parks, and hotels. Its amusement parks include Cedar Point, Kings Island, Canada's Wonderland, Dorney Park and Wildwater Kingdom, Valleyfair, Kings Dominion, Worlds of Fun, Knott's Berry Farm, and California's Great America. The company was founded on May 13, 1983 and is headquartered in Sandusky, OH.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.