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Five firms entertain takeover bid
Firms: Mallesons Stephen Jaques and Blake Dawson (Merlin Entertainments Group); Ashurst (UK counsel to Merlin); Freehills (M&A counsel to LLA); Gilbert + Tobin (Artic Capital, one of the…
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Firms: Mallesons Stephen Jaques and Blake Dawson (Merlin Entertainments Group); Ashurst (UK counsel to Merlin); Freehills (M&A counsel to LLA); Gilbert + Tobin (Artic Capital, one of the major security holders in LLA)
Area: M&A
Value: The offer values LLA at approximately $140 million on an equity value basis, or $244 million on an enterprise value basis
Key players: Sydney M&A partners Ros Anderson, Lee Horan and Brian Murphy led the Mallesons team, while banking and finance partners Graeme Tucker and Paul Jenkins led the Blakes team
Deal significance: LLA, in which James Packer's Artic Capital holds 48.86 per cent of the securities, owns and operates nine leisure attractions, including Melbourne Aquarium and Falls Creek ski resort, in the Asia Pacific region. The deal represents Merlin's expansion into the Asia-Pacific region.