GLOBAL MARKETS: Legoland a go-go
Merlin Entertainments is to be acquired in a £6bn deal by the Danish billionaire family that controls toymaker Lego, Blackstone and a Canadian pension fund
Leisure group Merlin Entertainments, best known for Legoland Resorts and Madame Tussauds wax museum, is to be acquired in a £6bn deal by the Danish billionaire family that controls toymaker Lego, private equity group Blackstone and a Canadian pension fund. The deal comes a month after US activist hedge fund ValueAct said the market was undervaluing Merlin and that it should look for a buyer.
The Financial Times
Opec holds firm
Opec and its allies look set to extend oil supply cuts this week, at least until the end of 2019, as Iran joined top producers Saudi Arabia, Iraq and Russia in endorsing a policy aimed at propping up the price of crude amid a weakening global economy. The cartel’s members will cut 1.2-million barrels per day, or 1.2% of global demand. But Iran’s oil minister has also warned that the future of Opec is in the balance as a Saudi-Russia alliance sidelines traditional members.
Reuters, with The Financial Times