On Air Now

Current Show

Coast to Coast AM   12:00 AM - 5:00 AM

Call Coast to Coast now at 1-800-825-5033

Show Info »

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 590 AM Kalamazoo, MI

Weather

Current Conditions(Kalamazoo,MI 49001)

More Weather »
24° Feels Like: 24°
Wind: SE 0 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Mostly Sunny 52°

Tonight

Cloudy 36°

Tomorrow

Mostly Cloudy 62°

Alerts

Merlin to close London float order books early: source

The London Eye is seen at dawn in central London October 21, 2013. REUTERS/Toby Melville
The London Eye is seen at dawn in central London October 21, 2013. REUTERS/Toby Melville

(Reuters) - Madame Tussauds owner Merlin Entertainments is to close its London share sale early due to strong demand, a person familiar with the matter said on Sunday.

Order books on the offering, which will value private equity-backed Merlin at as much as 3.3 billion pounds ($5.3 billion), had been due to close on November 8 for members of the public and on November 11 for institutional investors.

Both groups will now have until November 7 to put in orders for the shares, the person said.

Merlin, which is offering the shares at 280 to 330 pence each, said last month it planned to raise 200 million pounds from the sale of new shares to reduce debt. {ID:nL5N0IB0NF]

Its owners will also sell some of their holdings through the listing. Owners include Danish investment firm Kirkbi A/S, which controls Lego Group. Other owners are the private equity firms Blackstone Group and CVC, as well as company directors and employees.

($1 = 0.6281 British pound)

(Reporting by Kylie MacLellan in London; editing by Matthew Lewis)

Comments