Amusement parks company Cedar Fair (NYSE:FUN) announced it agreed to be acquired by an affiliate of Apollo Global Management, for 11 dollars and 50 cents per share in cash, in a deal valued at 2.4 billion dollars. Firms providing financing to Apollo for the buyout include J.P. Morgan (NYSE:JPM), BofA Merrill Lynch (NYSE:BAC), Barclays Capital (NYSE:BCS), UBS Investment Bank (NYSE:UBS), and KeyBanc Capital Markets (NYSE:KEY). Shares of Cedar Fair jumped about 23 and a half percent.
Dana Holding Company (NYSE:DAN) announced it agreed to sell its global structural products business to Mexico based Metalsa. Metalsa will acquire the business for 150 million dollars. Dana said it expects to recognize a pre-tax loss of somewhere between 150 and 180 million dollars as a result of the deal, which will be recorded during the fourth quarter. Dana shares advanced about 5% in Thursday trading.
And shares of Jarden Corporation (JAH) gained about 7.8 percent, after the company announced it will acquire the Mapa Spontex Baby Care and Home Care businesses of Total S.A. for 500 million dollars in cash, less any debt assumed by Jarden as part of the acquisition. In 2008, Mapa Spontex had sales of about 800 million dollars, and adjusted EBITDA of about 80 million.
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