Cedar Fair and Six Flags merged on 07/01/2024.  Under the terms of the merger agreement, Cedar Fair unitholders received one share of common stock in Six Flags Entertainment Corporation for each partnership unit owned, and Former Six Flags shareholders received 0.5800 shares of common stock in Six Flags Entertainment Corporation for each share owned.  

Is the merger a taxable event, or does the Cedar Fair partners adjusted basis roll into the Six Flags Entertainment Corporation common stock, with the taxable event being any future sale of Six Flags Entertainment Corporation stock?

The fair market value of Cedar Fair partnership units on 07/01/2024 was $52.11