After rumors started floating around about the Cedar Fair corporation possibly selling its company, chairman and representative Dick Kinzel decided to settle all of the talk.
The rumor contended that Cedar Fair was considering selling their company to an organization called “Destiny Capital.”
Kinzel stated that the chain is not currently in discussion with any organizations including “Destiny Capital” about selling the company.
However, the press release does state that “the board continuously challenges management to find the best strategic alternatives available to increase value to our unit-holders, and I do receive inquiries from time to time about a particular park or group of parks, whether it is to sell or to even buy additional parks.”
Many rumors started up because of the recent concern about the private equity being able to raise money to complete deals.
The New York Post, on the other hand, has reported that Cedar Fair is talking to “Destiny Capital Solutions” about a takeover that would be valued over $4 billion.
Cedar Fair is currently the third-largest amusement park operator, and Destiny Capital is said to be planning to spend another $500-$800 million to upgrade parks and hotels if this deal becomes a reality.