Six Flags holder Land & Buildings says merger does not maximize value

Land & Buildings Investment Management, a shareholder of Six Flags Entertainment (SIX), issued a comment on the company’s proposed merger with Cedar Fair (FUN): “The proposed merger of Six Flags and Cedar Fair does not maximize value for all shareholders and there are better alternatives available. We believe the right path forward is to monetize the Company’s real estate, which alone is likely worth nearly $30 per share based on inquiries we have received from interested third parties. We plan to explore all options to maximize value for shareholders and do not intend to support the merger as currently structured.”