Speculation of a merger between Cedar Fair and Six Flags have begun to come to light even before Six Flags has left bankruptcy
Representatives of Avenue Capital, who has committed to raise $450 million in equity for Six Flags, have apparently held talks with the leadership of the rival amusement park operator
Some bondholders speculate that a merger could greatly improve the recoveries they see from Six Flags bankruptcy case
Extended Stay filed a plan of reorganization on Friday proposing that its secured lenders join Paulson & Co and Centerbridge Partners to provide exit financing for the hotel chain
Paulson & Co and Centerbridge will invest a total of $225 million for a 22.5% stake in the company, while the holders of $4.1 billion in mortgage debt will receive new mortgage notes totaling $2.5 billion and a 55% stake
Extended Stay also plans to raise $225 million through a rights offering
Lyondell has rejected a takeover bid by Reliance and will move forward with its own reorganization plan
As part of the restructuring plan, Lyondell will issue 263.9 Class B shares on the NYSE, with the offering being backstopped by Apollo, Ares and Access
The three private equity shops can invest $1.52 billion, $475.7 million and $805.9 million respectively
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