Six Flags Says DoJ Seeks Additional Information On Six Flags-Cedar Fair Merger Deal
(RTTNews) - Six Flags Entertainment Corp. (SIX) revealed Tuesday in a Form 8-K filing with the U.S. Securities and Exchange Commission that Six Flags and Cedar Fair (FUN) each received a request for additional information and documentary materials from the Department of Justice or DoJ, in connection with the DOJ's review of their merger.
The effect of a Second Request is to extend the waiting period imposed by the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended until 30 days after each of Six Flags and Cedar Fair has substantially complied with the Second Request issued to it, unless that period is extended voluntarily by the parties or terminated earlier by the DOJ.
As per the terms of the merger agreement, Cedar Fair and Six Flags will use their reasonable best efforts to certify substantial compliance with the Second Request on or before May 2, 2024.
The completion of the merger remains subject to the expiration or termination of the waiting period under the HSR Act and the satisfaction or waiver of the other closing conditions specified in the agreement.
Six Flags and Cedar Fair continue to work constructively with the DOJ in its review and continue to expect that the merger will be completed in the first half of 2024, subject to the fulfillment of the closing conditions, including receipt of required regulatory approvals and approval of Six Flags' stockholders.
On November 22, amusement-park Businesses Six Flags and Cedar Fair entered into a definitive agreement to combine in a merger of equals transaction. The merger was expected to close in the first half of 2024.
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