September 10, 2005
The Plot Thickens
The Six Flags plot thickens with Wallace R. Weitz & Company filing a Schedule 13D on September 6th addressing, among other things, (a) an increase in its Six Flags ownership of common stock to 10.6% and (b) the possibility of conferring with Six Flags’ management, other shareholders and third parties in connection with its investment. In addition, on September 9th, Six Flags filed a revised preliminary consent revocation statement that included this possible Red Zone poker tell (Red Zone is the Washington Redskin owner, Dan Snyder’s investment vehicle):
“On August 25, 2005, the Company received notification from the Federal Trade Commission (the “FTC”) that it had received a Notification and Report Form which indicates that Red Zone intends to acquire certain voting securities issued by Six Flags. On September 6, 2005, the Company filed a Premerger Notification and Report form with the FTC and the Antitrust Division of the Department of Justice.”
The only question that may exist right now may be the strength of the “flush” that Dan Snyder is seeking.