Hedge fund ValueAct has urged London Eye and Legoland operator Merlin Entertainm...
- Hedge fund ValueAct has urged London Eye and Legoland operator Merlin Entertainments to pursue a deal to take the company private, claiming it could fetch around 30% more than its current market valuation.
In an open letter to the company, ValueAct said that the level of investment needed by Merlin, which also owns Madame Tussauds, meant it would be better off with a return to private ownership. Shares in Merlin rose more than 4 percent to 346.5 pence after the letter was published. They are up around 9.4 percent so far this year.
“Merlin has had recent discussions with ValueAct Capital, including their perspectives on the options for the company, and intends to continue the constructive dialogue that it has had to date,” the theme park operator said.
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