Knott’s Berry Farm fans no longer need to worry about a Shamu killer whale invasion after the Cedar Fair parent company of the Buena Park theme park rejected a takeover offer by rival SeaWorld.

Cedar Fair has spurned a sweetened takeover bid by SeaWorld Entertainment, company officials said during a quarterly earnings call on Wednesday, Feb. 16.

“Our board together with its external advisers carefully evaluated the proposal and determined it was not in the best interest of the company and its unit-holders,” Cedar Fair CEO Richard Zimmerman said on the earnings call. “That said, the board is open minded and always committed to acting in the best interest of unit-holders.”

SEE ALSO: Knott’s Berry Farm to close Montezooma’s Revenge again – for real this time

Cedar Fair announced on Feb. 1 that the Ohio-based company was reviewing the “unsolicited, non-binding” proposal from SeaWorld to determine the best course of action in the interest of the company and its unit-holders. The stocks of both Cedar Fair and SeaWorld rose on the news.

SeaWorld’s initial cash bid to buy Cedar Fair for $3.4 billion at $60 per unit was “subsequently and informally” increased to $63 per unit, Zimmerman said on the call.

SeaWorld acknowledged that the deal was dead.

“In response to inquiries from various stakeholders, we confirm that our offer to acquire Cedar Fair was rejected,” according to a SeaWorld Entertainment statement. “Unfortunately, we do not see a path to a transaction.”

Bloomberg reported the potential Cedar Fair-SeaWorld merger indicated consolidation may be ramping up in the “fairly fragmented” theme park industry dominated by a half-dozen major players.

SEE ALSO: Knott’s Berry Farm kicks off Peanuts Celebration with a Bonk!, Bam! and Pow!

SeaWorld and Cedar Fair have both been takeover targets in recent years.

Cedar Fair rebuffed a $4 billion offer from Six Flags for approximately $70 per share in October 2019, according to Reuters.

Merlin Entertainments — the parent company of Legoland California — quashed reports in 2017 that the United Kingdom-based theme park company was considering a bid for SeaWorld Entertainment.

SEE ALSO: Knott’s Berry Farm pizzeria bills itself as a Boysenbrewery — but the park won’t brew beer

Cedar Fair operates 11 theme parks — including Cedar Point and Kings Island in Ohio, Canada’s Wonderland in Ontario and California’s Great America in Northern California.

SeaWorld operates marine parks in San Diego, Florida and Texas with Busch Gardens theme parks in Florida and Virginia.

Both chains pair water parks with many of their theme park locations.