.Hasbro acquires indie studio Entertainment One in $4 Billion deal
have made a deal to for the toy giant to acquire the independent studio in an all-cash transaction valued at $4 billion. The tie-up will merge Hasbro’s preschool brands like Peppa Pig and PJ Masks with eOne’s TV and film expertise.
As part of the definitive agreement, eOne shareholders will receive $6.86 in cash for each common share of eOne, repping a 31% premium to eOne’s 30-day volume weighted average price as of today. Top eOne executives have agreed to join the Hasbro team, the companies said. eOne’s Canadian TV and film operations will continue as a distinct Canadian-controlled business within the combined entity.
“The acquisition of eOne 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,” said Brian Goldner, Hasbro chairman and CEO, in a release announcing the deal Thursday.
Said eOne’s Allan Leighton: “On behalf of the board of eOne, I am very pleased by this exciting development, which is a testament to eOne management’s vision, leadership and solid execution. This transaction creates significant, immediate value for our shareholders as it recognizes the strength of our future-facing business model.”
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