Investing.com – Six Flags Entertainment (NYSE:) tumbled in midday trade on Wednesday after CEO Jim Reid-Anderson said on an earnings call that the company was not in merger talks.
Reuters reported earlier this month that the company had made a $4 billion cash and stock takeover bid to Cedar Fair (NYSE:).
The news caused shares of the entertainment group to slump nearly 12%. Six Flags was already trading in the red after its third-quarter earnings came in below estimates, as park-goers spent less.
Six Flags reported per share of $2.11 on revenue of $621 million.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.