Shareholder Alert: Ademi LLP investigates whether Six Flags Entertainment Corporation has obtained a Fair Price in its transaction with Cedar Fair
MILWAUKEE, Nov. 2, 2023 /PRNewswire/ -- Ademi LLP is investigating Six Flags (NYSE: SIX) for possible breaches of fiduciary duty and other violations of law in its transaction with Cedar Fair.
Click here to learn how to join the action https://www.ademilaw.com/case/six-flags-entertainment-corporation or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
In the transaction, Six Flags stockholders are expected to receive only 0.5800 (the "Six Flags Exchange Ratio") shares of common stock in the new combined company for each share owned. Cedar Fair unitholders will own approximately 51.2%, and Six Flags shareholders will own approximately 48.8%, of the combined company. One business day prior to the close of the transaction, Six Flags will declare a special cash dividend composed of: (i) a fixed amount of $1.00 per outstanding Six Flags share, totaling approximately $85 million in the aggregate, plus, (ii) an amount per outstanding Six Flags share equal to (a) the aggregate per unit distributions declared or paid by Cedar Fair to unitholders with a record date following today's date and prior to the close of the transaction, multiplied by (b) the Six Flags Exchange Ratio, which special dividend will be payable to Six Flags shareholders of record as of one business day prior to the close of the transaction, contingent on the closing of the transaction.
The transaction agreement unreasonably limits competing transactions for Six Flags by imposing a significant penalty if Six Flags accepts a competing bid. Six Flags insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Six Flags' board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
If you own Six Flags common stock and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, or https://www.ademilaw.com/case/six-flags-entertainment-corporation.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Ademi LLP
Guri Ademi
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Fax: (414) 482-8001
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SOURCE Ademi LLP
