Overview
- The Jana-led group, which includes Travis Kelce, Glenn Murphy and Dave Habiger, holds roughly a 9% economic interest valued near $200 million.
- Shares of Six Flags rose about 16% to 18% after the investment was disclosed, making the group one of the company’s largest stakeholders.
- Jana said it plans to engage the board on marketing and guest experience, operational improvements, technology modernization, leadership and governance, and potential transactions.
- Managing partner Scott Ostfeld revealed the position at the 13D Monitor Active-Passive Investor Summit as the campaign begins its engagement phase.
- Six Flags has posted sizable losses and attendance declines this year, announced park closures, a CEO transition and board changes, and said it welcomes shareholder feedback.