Merlin Entertainments – the firm behind attractions including Madame Tussauds and the Edinburgh Dungeon - has accepted a £5.9 billion takeover bid from the family owners of Lego and private equity firm Blackstone.
Merlin has accepted the bid from Kirkbi, the investment vehicle of Lego's Danish founding family, Blackstone and Canadian pension fund CPPIB.
The takeover has valued the company - which also owns attractions such as Alton Towers - at 455p per share, a 15% increase on the firm's 395p per share value at the end of trading on Thursday.
Kirkbi, which already owns almost a third of the shares in Merlin Entertainments, said it plans to keep all existing Merlin sites in the UK open and has no plans to sell any part of the business.
Merlin said it had rejected a number of previous takeover proposals.
Sir John Sunderland, chairman of Merlin, said: "Merlin is a global leader in location-based, family entertainment, with a unique portfolio of brands and attractions spanning 25 countries and four continents, and with a proven strategy that has delivered over many years.
"The company has generated meaningful value since its IPO with significant growth in revenue, earnings and cash flow.
"Following an unsolicited approach by a consortium of investors, and after rejecting a number of their proposals, the Merlin independent directors believe this offer represents an opportunity for Merlin shareholders to realise value for their investment in cash at an attractive valuation."
