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Company not currently in discussions with anyone regarding possible sale SANDUSKY, OHIO, July 30, 2007 -- Cedar Fair Entertainment Company (NYSE: FUN), a leader in regional amusement parks, water parks and active entertainment, today commented on recent reports of a potential sale to Destiny Capital.
?We have received numerous inquiries and questions regarding stories that have appeared in the press concerning a possible sale of the company,? said Dick Kinzel, Cedar Fair chairman, president and chief executive officer. ?Although as a matter of policy we do not normally comment on market rumors, an article today reports a claim by an organization referred to as ?Destiny Capital? that constructive negotiations with the company have been undertaken. We are not currently in discussions with that organization or any other party for the sale of the company. Of course, the board continuously challenges management to find the best strategic alternatives available to increase value to our unitholders, 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. Consistent with our policy, I do not intend to comment on any of these discussions on an ongoing basis.?
Kinzel also mentioned the company intends to issue its second quarter earnings results tomorrow morning, July 31, 2007, before market hours. The company will also host a conference call with analysts tomorrow afternoon at 2:00 p.m. Eastern Time, which will be web cast live in ?listen only? mode via the Cedar Fair web site (
www.cedarfair.com). It will also be available for replay starting at approximately 5:00 p.m. ET, Tuesday , July 31, 2007, until 11:59 p.m. ET, Tuesday, August 14, 2007. In order to access the replay of the earnings call, please dial 1-877-519-4471 followed by the access code 9016239.
Topic: Cedar Fair In Talks On $4.1 Billion Takeover (Read 1795 times)