Six Flags Inc. on Thursday said its board of directors unanimously decided to sell the company through an auction process, one week after a dissident shareholder offered to raise his stake and replace its management.
Six Flags said it would invite the dissident shareholder, Red Zone LLC, to participate in the auction. The amusement-park operator also said it opposed the group’s attempt to gain control of the company through a consent solicitation and tender offer for Six Flags stock.
