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Five firms entertain takeover bid
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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…

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)

Deal: Off-market takeover bid for Living and Leisure Australia Group (LLA) by Merlin

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.

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