Cedar Fair to Buy Six Flags in $1.9 Billion Theme-Park Deal (3)

Cedar Fair Entertainment Co. is acquiring rival Six Flags Entertainment Corp. for about $1.88 billion in a deal that will create one of the biggest theme-park operators in the Americas.

Six Flags investors will get 0.58 of a share in a new company for each share they own, plus a $1 cash dividend, the companies said Thursday. That makes the sale worth about $22.50 per Six Flags share, although additional dividends may be paid. Cedar Fair investors will own about 51% of the combined company’s equity and Six Flags shareholders 49%.

Together, the two will operate 27 amusement parks, 15 ...