LANDING THE BIG ONE: The Legoland deal marks one of the largest European buyouts in recent history and comes at a moment time when private equity funds are flush with cash and looking at bigger targets. Picture: BLOOMBERB/Mediasource
LANDING THE BIG ONE: The Legoland deal marks one of the largest European buyouts in recent history and comes at a moment time when private equity funds are flush with cash and looking at bigger targets. Picture: BLOOMBERB/Mediasource

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