Cedar Fair L.P. (NYSE: FUN), parent company of Knott’s Berry Farm in Buena Park, received an unsolicited $3.4 billion bid from neighboring SeaWorld Entertainment Inc. in San Diego. The Ohio-based amusement park operator will review the offer and confirmed its Board of Directors will consider the next course of action at this time.
Cedar Fair has not announced any timeline or date for the decision but assured that company unitholders do not need to take any current action, according to its report.
The company operates both Knott’s Berry Farm and Knott’s Soak City Water Park (currently closed), alongside the park’s resort hotel with an estimated 2,000 employees in Orange County, and 47,000 companywide. It ranked No. 40 on the Business Journal’s list of Largest Employers as of November 2021.