Embattled theme park operator saw its shares initially surge on rumors Legoland parent company Merlin Entertainments wants to strike a deal for part of its business.
According to people familiar with the matter cited by Bloomberg, Merlin made an offer for part of the SeaWorld business although SeaWorld wants an outright sale of the entire company.
A source says there is also interest from other potential buyers.
Merlin has a corporate policy against captive animal attractions leaving SeaWorld’s Busch Gardens as the likely option for purchase.
The SeaWorld business is thought to be valued at about US$1.3 billion.
Back in August during an earnings call Merlin CFO said Anne-Francoise Nesmes said SeaWorld’s Busch Gardens parks have ‘good-quality assets and that we would be interested but it takes two parties to do a deal.’
Both Merlin and SeaWorld declined to comment.
SeaWorld has struggled to prop up its share price and arrest declining attendance figures ever since the ‘Blackfish’ documentary controversy in 2013.
It has been working with advisers to explore possible strategic options including a sale.
