Is SeaWorld going to take over Valleyfair?
Valleyfair may soon fall under the SeaWorld umbrella Splash Zone poncho.
Bloomberg reported Monday that SeaWorld Entertainment Inc. made a $3.4 billion offer to buy Cedar Fair — the company that owns Valleyfair and other renowned amusement parks, including Cedar Point and Knott's Berry Farm.
Cedar Fair said the offer was "unsolicited," adding its board of directors will "carefully review and consider the proposal" to determine the best course of action.
Valleyfair has been a part of Cedar Fair's portfolio since its inception. The park Cedar Point purchased Valleyfair in 1978 and founded parent company Cedar Fair, L.P. (its name a nod to the two parks it owned).
Since that time, Cedar Fair has gone public and expanded. It now owns 11 amusement parks, four separately gated outdoor water parks, and various resort accommodations across 10 states and Tornoto, Canada.
CNBC says the Orlando-based SeaWorld's $3.4 billion offer may not be nearly enough, noting Cedar Fair rejected a $4 billion offer from Six Flags in 2019, albeit that was before the pandemic hit.
