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Amusement park merger is off table

Amusement park operator Cedar Fair L.P., parent company of Dorney Park and Wildwater Kingdom near Allentown, says its planned $635 million takeover by asset manager Apollo Global Management has been scrapped because of weak investor support.

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Amusement park operator Cedar Fair L.P., parent company of Dorney Park and Wildwater Kingdom near Allentown, says its planned $635 million takeover by asset manager Apollo Global Management has been scrapped because of weak investor support.

Cedar Fair, of Sandusky, Ohio, said in a statement Tuesday that it will reimburse Apollo $6.5 million for expenses related to the deal.

The companies announced their transaction in December following a tough year of declining attendance and spending at Cedar Fair's amusement parks, which include Cedar Point in northern Ohio and California's Knott's Berry Farm and Great America.

The proposed transaction depended on support from holders of two-thirds of Cedar Fair's units.

Cedar Fair shares rose 13 cents to $12.33 in noon trading.