SeaWorld attracts interest from potential bidders other than Merlin Entertainment - report
06 OCT 2017
SeaWorld Entertainment Inc [NYSE:SEAS], an Orlando, Florida-based theme park and entertainment company, has attracted interest from potential bidders other than UK-based rival Merlin Entertainment [LON:MERL], according to a report in The Times.
The newspaper did not name the other interested parties or cite a source for the information, which appeared in a report about an approach by Merlin to SeaWorld regarding a potential USD 1bn (EUR 855m) offer for SeaWorld’s Busch Gardens businesses in Virginia and Florida.
SeaWorld is not thought to be interested in a break-up however, the item said.
Merlin owns several Sea Life centres, but does not as a matter of policy keep captive dolphins and whales, the report continued. Merlin’s policy means that it would not make an offer to buy SeaWorld outright, as some of SeaWorld’s parks hold captive killer whales, a source of controversy for the company in the past.
SeaWorld’s market capitalisation stood at USD 1.19bn at the close of trading in New York on Thursday, 5 October.
Acuris Group publications in July reported that SeaWorld had hired Evercore Partners to strengthen its advisory team amid ongoing pressure from activist investor Hill Path Capital, working alongside the company’s other financial advisor, JPMorgan.