LONDON (ShareCast) - (Sharecast News) - London's FTSE 250 climbed 0.54% higher to 19,418.15 in afternoon trade on Friday, with Merlin Entertainments leading the market higher.
The Legoland resorts and Madame Tussauds owners' shares surged after it agreed to be taken private by investors including Lego's founding family and buyout firm Blackstone for almost £6bn in cash.

The deal values the company's shares at 455p each - 15.2% more than their closing price on Thursday and a 36.8% premium to the value before one of Merlin's biggest investors called for a sale.

Fiona Orford-Williams, analyst at Edison Investment Research said: "Merlin will be able to undertake the investment projects needed to bring the attractions up to the standards that can deliver high-quality, exciting experiences for visitors in a longer-term payback scenario. Lego gets to diversify its attractions portfolio. Doubtless shareholders would have liked a higher price, but the close existing relationship makes its less likely for there to be competing bids."

Restaurant Group climbed after Berenberg analyst said they were "considerably undervalued" amid promising signs for Wagamama, the company's leisure brands and general market conditions.

Housebuilders were largely higher, with Crest Nicholson among the top risers on the index as Tory leadership front-runner Boris Johnson was said to be planning to slash stamp duty in the event of a no-deal Brexit budget.

On the downside, Petrofac came in as the top faller after the Iraqi government said it had suspended the oilfield services provider from bidding on new contracts in the Middle-Eastern nation.

The company's former global head of sales, David Lufkin, was convicted of 11 counts of bribery relating to Iraqi and Saudi officials in February, while the company itself is the subject of an ongoing investigation by the UK's Serious Fraud Office

Paypoint also lost ground after saying it had been unable to agree appropriate renewal terms for its multi-year contract with British Gas and will cease to work with the company after 31 December 2019.

Finally, Woodford Patient Capital was lower even as it said it plans to cut debt, is considering share buybacks and announced some board changes following talks with shareholders.

Market Movers

FTSE 250 (MCX) 19,418.15 0.54%
FTSE 250 - Risers

Merlin Entertainments (MERL) 449.20p 13.72%
Restaurant Group (RTN) 132.00p 4.35%
Playtech (PTEC) 426.80p 3.59%
Hilton Food Group (HFG) 979.00p 3.27%
Senior (SNR) 213.40p 3.09%
BBA Aviation (BBA) 280.00p 2.64%
Network International Holdings (NETW) 590.00p 2.61%
Bakkavor Group (BAKK) 120.40p 2.56%
Crest Nicholson Holdings (CRST) 356.80p 2.47%
Spectris (SXS) 2,891.00p 2.37%

FTSE 250 - Fallers

Petrofac Ltd. (PFC) 428.30p -4.55%
PayPoint (PAY) 981.00p -4.01%
Woodford Patient Capital Trust (WPCT) 55.46p -3.54%
Amigo Holdings (AMGO) 198.00p -3.18%
Funding Circle Holdings (FCH) 182.80p -2.87%
Premier Oil (PMO) 76.78p -2.76%
Spirent Communications (SPT) 152.00p -2.56%
Travis Perkins (TPK) 1,273.50p -2.23%
Hunting (HTG) 511.50p -1.92%
Vivo Energy (VVO) 134.60p -1.75%

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