Buyout offer from Blavatnik sends Perform shares surging back to flotation price

LONDON (Reuters) - Len Blavatnik's investment group Access Industries made a bid to take sports rights group Perform private on Monday, sending Perform shares soaring back to their flotation price after a bumpy three-year ride.

Perform buys online rights to major sports events and supplies video clips, live action and sports news and data to media groups and bookmakers. The bid values the company, including Access's existing 42.5 percent stake, at 700 million pounds.