On Jan 22, Six Flags Entertainment Corp And Cedar Fair Each Received A Request For Additional Information And Documentary Materials From DOJ
Portfolio Pulse from Benzinga Newsdesk
Cedar Fair, L.P. (FUN) and Six Flags Entertainment Corporation (SIX) received a Second Request from the DOJ for additional information regarding their proposed merger. This request extends the waiting period under the HSR Act until 30 days after compliance, with a target date of May 2, 2024, for substantial compliance. The completion of the merger is subject to regulatory approvals and Six Flags' stockholders' approval, with an expected completion in the first half of 2024.
January 23, 2024 | 12:55 pm
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NEUTRAL IMPACT
Cedar Fair received a DOJ Second Request, extending the merger review period with Six Flags. Compliance is targeted by May 2, 2024, with merger completion expected in H1 2024.
The DOJ's Second Request may cause investor uncertainty, potentially delaying the merger. However, both companies are working towards compliance, indicating a neutral short-term impact as the market may have anticipated such regulatory processes.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Six Flags received a DOJ Second Request, extending the merger review period with Cedar Fair. Compliance is targeted by May 2, 2024, with merger completion expected in H1 2024.
The DOJ's Second Request may introduce uncertainty and delay the merger process, but as the companies aim for compliance by May 2024, the short-term impact on Six Flags' stock is likely neutral. The market may have already priced in such regulatory steps.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100