August 22, 2005
Coulda Seen It Coming: Dan Snyder and Six Flags
Last September, I blogged that about how Dan Snyder, the Washington Redskins owner, hired Dennis Block to help file a Schedule 13D regarding an ownership stake in Six Flags (as well as Bill Gates). Then, Snyder amended the 13D August 10th to indicate that the Danster had exceeded the 10% ownership threshold – and it was even more obvious that something was up.
Now, Snyder has launched what amounts to a hostile takeover for Six Flags, citing tired and unimaginative management. Snyder is offering to pay $140 million to bring his stake in the amusement park chain to a controlling 34.9%. Lot of local news on this story – such as this Washington Post article – and I would say “I told you so” except I forgot to buy some of the stock last year!
Sidenote: Here is an interesting article about “Mr. Six,” the anonymous bald geezer from the popular Six Flags’ ads.