Keep on top of stock updates: Indigo, Cedar Fair & Mullen Group

Article Excerpt

INDIGO BOOKS & MUSIC INC. $2.06 is a hold. The company (Toronto symbol IDG; Consumer sector; Shares outstanding: 27.8 million; Market cap: $57.3 million; No dividend paid; Takeover Target Rating: Lowest; www.chapters.indigo.ca) operates 172 bookstores, mainly under the Chapters and Indigo banners. Indigo’s major shareholders, Gerald W. Schwartz and his spouse Heather Reisman (Indigo’s CEO), who together control 60.63% of the outstanding shares, have offered to buy the remaining shares for $2.25 a share in cash. A special committee of independent directors will evaluate the proposal, and will make a recommendation in the next few weeks. Indigo is a hold. CEDAR FAIR L.P. $41 is a hold. The partnership (New York symbol FUN; Consumer sector; Units o/s: 51.0 million; Market cap: $2.1 billion; Distribution yield: 2.9%;Takeover Target Rating: Medium; www.cedarfair.com) has agreed to merge with rival amusement park operator Six Flags (New York symbol SIX). The combined firm will take the Six Flags name and trade on the New York exchange under the “FUN” symbol. It will operate 27 amusement parks,…