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Merlin confirms Living and Leisure Australia takeover
UK attractions giant Merlin Entertainments Group has this week confirmed the unconditional takeover of Living and Leisure Australia (LLA) Group.
LLA's interests include the Melbourne Aquarium, Underwater World Mooloolaba and the Victorian ski resorts of Hotham and Falls Creek, the Otway Fly and Illawarra Fly treetop walks and Asian assets including Siam Ocean World in Bangkok, Shanghai Chang Feng Ocean World in China and Busan Aquarium in South Korea.
Merlin Sales and Marketing Director Rob Smith told media "as you can imagine we are very excited and delighted to now have these wonderful attractions as part of the Merlin portfolio, and very much look forward to realising their full potential.
"Merlin's growth and continuing success lies very much in our strategy of continuous investment in all our attractions."
As part of the acquisition, LLA Directors Bruce McComish, Jolyon Dische, Michael Johnston and Guy Jalland have resigned, with Merlin Entertainments Group executives Colin Armstrong, Edward Fuller and James Squirrell appointed in their place.
A Merlin representative said its offer of $5.14 per LLA security was the highest price it would pay.
Given there had been acceptances for more than 90% of LLA securities, the LLA board did not expect any superior proposal to emerge, the representative explained.
31st December 2011 - Merlin advances Living and Leisure Australia takeover
19th December 2011 - Merlin snaps up Living and Leisure Australia
17th December 2011 - Aquarium investment to benefit Melbourne tourism
10th March 2011 - Merlin completes Sydney Attractions Group purchase
11th October 2010 - Otway Fly announces Zip Line Adventure tour
1st September 2010 - Sydney Aquarium to Present 200 million years of evolution
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