Simon Glick Joins Six Flags Shareholders With 9.7% Stake

N.Y.-based investor Simon Glick has spent $64.4M to amass a 9.7% stake in Six Flags Inc. (NYSE: PKS) since he began “buying up shares” on August 19 — “just two days after [Redskins Owner Daniel] Snyder said he planned to ask Six Flags shareholders to effectively turn the company over to him and his team, which includes” outgoing ESPN Exec VP/Programming & Production Mark Shapiro and NVR Inc. Chair Dwight Schar, according to Annys Shin of the WASHINGTON POST. The purchase puts Glick among the ten largest Six Flags shareholders. Snyder is the firm’s largest investor with 11.7%. None of the company’s major shareholders has “stated an opinion publicly about Snyder’s plans.” Shin notes the price of Six Flags stock has risen since Snyder released his takeover bid, closing at $7.09 yesterday. Snyder offered to pay $6.50 per share “if his bid to join the [BOD] is approved.” Meanwhile, Six Flags announced yesterday it will sell its 109-acre AstroWorld theme park in Houston (WASHINGTON POST, 9/13).