Cedar Fair to merge with Apollo Global

Cedar Fair and Apollo Global Management have entered into a merger agreement set for completion in the second quarter 2010. "We have considered a wide range of strategic alternatives over the past several years. After considering these strategic alternatives, we have concluded that the transaction with Apollo is in the best interest of our unitholders," says Dick Kinzel, chairman, president and CEO of Cedar Fair LP. The deal is valued at $2.4 billion and would have the management company taking over ownership of Cedar Fair's 11 amusement parks, seven water parks and five hotels across North America. [GlobalSt]