US toy giant Hasbro is set to snap up London-listed Peppa Pig-maker Entertainment One in a $4bn (£3.3bn) deal. The two companies said tonight they had agreed an all-cash deal with Entertainment One shareholders to receive £5.60 in cash for each share. The deal marks a 31 per cent premium to Entertainment One’s 30-day average price at 22 August. Read more: Profits slip at Entertainment One after £61m write down Yesterday, Entertainment One’s shares closed up one per cent at 443p. In Entertainment One’s last set of full-year results in May, profit before tax fell 43 per cent to £37m. The company wrote down £61m, blaming changing consumer trends. Its growth was driven by Peppa Pig, superhero show PJ Masks and its new production Cupcake & Dino. Read more: Media firm Entertainment One on track as it shifts focus to film production Hasbro chairman and chief executive Brian Goldner said: “The acquisition of E One adds beloved story-led global family brands that deliver strong operating returns to Hasbro’s portfolio and provides a pipeline of new brand creation driven by family-oriented storytelling, which will now include Hasbro’s IP.” Entertainment One’s chairman Allan Leighton said: “This transaction creates significant, immediate value for… Read full this story
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