Cedar Fair’s Mystery: An Investor’s Game Plan

A mystery has arisen around the $2.4 billion acquisition of the amusement park operator Cedar Fair by Apollo Management.

Thursday, 28 January 2010

A mystery has arisen around the $2.4 billion acquisition of the amusement park operator Cedar Fair by Apollo Management.

It began on Jan. 19 when affiliates of the hedge fund firm Q Investments filed a Schedule 13G with the Securities and Exchange Commission reporting a 9.8 percent ownership stake in Cedar Fair. The next day, Q Investments filed an amended 13G to correct mistakes in the ownership structure it reported. Q Investments then amended its 13G again in a filing on Monday to report that Q Investments had raised its ownership interest to 12 percent of Cedar Fair and purchased cash-settled derivatives equal to another approximate 1 percent of Cedar Fair’s shares.

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