Theme park LBO would be a low-thrills ride LiamWardProud
ValueAct Capital on May 23 urged Merlin Entertainments to sell itself to a private equity fund, and said a buyout could value the company at about 4 pounds a share, or 20% more than its current price.
The U.S. activist fund invested in the owner of Madame Tussauds, the London Eye and Alton Towers in October 2017 and now holds a 9.3% stake. Merlin shares fell 11.6% between Oct. 31, 2017 and May 22, 2019. “We believe the Company's declining valuation is directly linked to the decline in reported return on invested capital,” ValueAct said in a statement. “And yet, the Company is right to pursue most of these investments for the long-term value of the business.”
“As the Company deploys an increasing amount of capital that takes time to generate earnings, we fear it will take several years for Merlin to be appropriately valued by public shareholders.” The fund supports the current management team led by Nick Varney, who has been chief executive since 1999. Merlin shares rose 4.1% to 3.46 pounds at 0730 GMT on May 23. That is 9% above its initial public offering price of 3.15 pounds in 2013.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Biden kicks off presidential campaign with anti-Trump themeBranding President Donal Trump a 'divider in chief', Democrat Joe Biden starts his presidential campaign for the 2020 elections by offering national unity for the United States.
Baca lebih lajut »
APNewsBreak: Theme park to star 'Hunger Games,' 'Twilight'LOS ANGELES (AP) — Some of Lionsgate's most popular film franchises from 'Hunger Games' to 'Twilight' will be brought to life when the studio opens what it calls the world's first vertical theme park in China this summer.
Baca lebih lajut »
Tivoli Gardens: The Copenhagen Theme Park Still Going Strong After 176 YearsLocated at the very heart of the Danish capital Copenhagen, Tivoli Gardens has played an important role for tourism and in the lives of Copenhagen locals since its opening at 1843. There is a special old-world charm.
Baca lebih lajut »
Dolly Parton's Dollywood theme park just opened a new $37 million attraction — take a lookDollywood — musician Dolly Parton's 150-acre theme park destination in Pigeon Forge, Tennessee — has opened a new kid-friendly expansion, called Wildwood Grove. It was inspired by Parton's 'daydreams and imaginations' from her childhood.
Baca lebih lajut »
'Make America Late Again': De Blasio's political tardiness is an enduring themeHe's late to his own announcements and his own meetings. He sometimes keeps staffers waiting while he naps in his City Hall office. And when, after weeks of hedging, Bill de Blasio confirmed he was entering the presidential race, he was late again.
Baca lebih lajut »
Kim and Kanye stick to a theme with name for baby No. 4'With the arrival of our fourth child ... we are blessed beyond measure,' Kardashian tweeted, alluding to their newborn son's holy name.
Baca lebih lajut »
Why it won't be easy for Elizabeth Warren to take Bernie Sanders' baseWhy it won't be easy for Elizabeth Warren to take Bernie Sanders' base | Analysis by Harry Enten
Baca lebih lajut »
The future of retail is in e-commerce, expert saysTarget, Walmart, and Amazon... there were pockets of positivity in retail earnings this quarter, one expert says. The common theme here is investment in e-commerce, she says.
Baca lebih lajut »