Taking the crown: Hasbro in $4bn deal for Peppa Pig maker
Hasbro has agreed to spend $4bn (€3.6bn) on Entertainment One, the studio that makes the 'Peppa Pig' and 'PJ Masks' children's shows.
The world's largest publicly traded toymaker will pay £5.60 (€6.20) a share in cash, 26pc more than Thursday's closing price.
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Hasbro's biggest-ever deal would give it TV production and development capabilities, including animated and live-action shows, at a time when growth in video-streaming is spurring competition for content producers.
Entertainment One is a perennial takeout candidate, and its stock has been supported by speculation that media giants such as Netflix or Liberty Media may be interested to gain its popular brands, analysts at broker OliveTree Financial said.
Hasbro shares fell as much as 7.3pc to $106 yesterday.