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AP Photo/John Raoux

Merlin Entertainments has approached SeaWorld Entertainment about a possible investment, as first reported yesterday by Bloomberg. SeaWorld shares spiked in the aftermarket on the news, increasing its market cap at one point to nearly $1.5 billion.

Why it matters: Sea World's reaction to this approach may give some insights into its level of desperation, four years after the critical Black Fish documentary. Reports are that it wants to sell the entire company, but Merlin likely is only seeking the Busch Garden parks given its internal policy against keeping marine mammals in captivity. If it proceeds with Merlin, that means Sea World isn't expecting suitors for the whole package.

Key number is 23. That's the per share price that China's Zhonghong Zhuoye Group paid earlier this year to buy a 21% stake in Sea World from The Blackstone Group. Yesterday, Sea World shares closed at just $14.11.

Bloomberg goes deeper: "The offer comes as SeaWorld... struggles to stem declines in sales and the stock price of the Orlando-based park owner once famous for its killer whales. For Merlin, a deal by the operator of the London Eye and Madame Tussauds waxworks would mark a continuation of its strategy to expand internationally to cope with a drop in day-trippers to the British capital following terrorist attacks in London and Manchester."

Go deeper

Federal judge says Florida ban on "sanctuary cities" racially motivated

Florida Gov. Ron DeSantis. Photo: Joe Raedle/Getty Images

A federal judge on Tuesday struck down parts of a Florida law aimed at banning local governments from establishing "sanctuary city" policies, arguing in part that the law is racially motivated and that it has the support of hate groups.

Why it matters: In a 110-page ruling issued Tuesday, U.S. District Judge Beth Bloom said the law — signed and championed by Gov. Ron DeSantis (R) — violates the Constitution's Equal Protection Clause because it was adopted with discriminatory motives.

Biden steps into the breach

Sen. Joe Manchin heads to a meeting with President Biden today. Photo: Kevin Dietsch/Getty Images

President Biden ramped up the pressure on his fellow Democrats Wednesday, calling a series of lawmakers to the White House in the hope of ending infighting and getting them in line.

Why it matters: Divisions within the party are threatening to derail Biden's top priorities. After several weeks of letting negotiations play out, the president is finally asserting his power to ensure his own party doesn't block his agenda.

1 hour ago - Politics & Policy

Scoop: Dems seek new green deal

Rep. Stephanie Murphy. Photo: Chip Somodevilla/Getty Images/Bloomberg via Getty Images

House Democrats discussed with President Biden on Wednesday a plan to exempt billions of dollars of new climate spending from his requirement that his $3.5 trillion "soft" infrastructure plan be offset with additional revenue.

Why it matters: The accounting proposal — a version of "dynamic scoring" — would dramatically lower the amount of taxes Democrats would need to raise while creating wiggle room to increase the ultimate size of the package.