(WXYZ) — Days after it was reported that Six Flags was planning to make an offer to buy Cedar Fair, the owner of Cedar Point, Michigan's Adventure and more, Reuters is reporting that Cedar Fair turned down the offer.
According to Reuters, the company turned down a $4 billion offer that included cash and stock from Six Flags. Reuters reports that Cedar Fair said the bid was too low, and the $70-per-share offer didn't compensate shareholders enough for giving up the partnership.
Reuters also reports that Six Flags had offered Cedar Fair execs management roles in the combined company, but that didn't work to persuade them.
