Report: Carowinds' parent company rejects $4B offer to merge with Six Flags

CHARLOTTE, N.C. — Carowinds may not get sold after all.

Last week, Reuters reported Six Flags Entertainment offered $4 billion for Cedar Fair, the company that owns Carowinds.

There was no certainty that a deal would be made, sources told Reuters.

[PAST COVERAGE: Cedar Fair announces $50M investment in Carowinds]

Now, Reuters is reporting Cedar Fair rejected the offer because it is not enough and there are no signs of a counter-offer from Six Flags.

The talk of the possible merger last Wednesday created a roller coaster ride on the stock market.

Cedar Fair shares jumped, while Six Flags’ shares dropped, which wreaked havoc on Wall Street.

The two companies have not commented on the situation.

Cox Media Group