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Cedar Fair agrees to add two board members, Q will drop suit

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http://www.cedarfair.com/ir/press_releases/index.cfm?current_root=15&mode=story&story_id=238

An interesting quote in the press release by Kinzel. Again, referencing the "pursuit for long-term unitholder value creation."

Essentially, the way I understand this release, the Cedar Fair board will increase to 9 for this year, and then two spots will be left vacant next year, returning the board to seven members.

In addition, under the agreement, Q has agreed to voluntarily dismiss the action it filed on April 29, 2010 in the Court of Chancery of the State of Delaware against the Company and its general partner. Q has also agreed to vote all of its units on the two matters to be considered at the Company’s 2010 Annual Meeting of Unitholders as recommended by the Board.

Hmm...

More money out the door for 2 more board members salaries.

  • Author

I get the first part of your post. But you expect a surprise disclosure at some point from Q? Yes, I asked a question about Q.

I wonder if Q is really interested in taking over control of Cedar Fair, and getting its hands on Six Flags. Tomorrow should be an interesting conference call. Its the first one in a while, since they didn`t have one last time, as they were occupied trying to hash through the deal that they were championing as "a good value for unit holders."

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