Peppa Pig owner eOne bought by Hasbro for £3.3bn
Hasbro and Entertainment One have entered into a definitive agreement under which Hasbro will acquire eOne in an all-cash transaction valued at approximately £3.3 billion.
Under the terms of the agreement, eOne shareholders will receive £5.60 in cash for each common share of eOne, which represents a 31% premium to eOne's 30-day volume weighted average price as of August 22, 2019.
"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 chief executive officer.
"In addition, Hasbro will leverage eOne's immersive entertainment capabilities to bring our portfolio of brands that have appeal to gamers, fans and families to all screens globally and realise full franchise economics across our blueprint strategy for shareholders.
“We are excited to welcome eOne's talented employees from around the world into the Hasbro family."
"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 recognises the strength of our future-facing business model," said Allan Leighton, eOne's chairman of the board.
Darren Throop, the CEO of eOne said of the deal: "Hasbro's portfolio of integrated toy, game and consumer products, will further fuel the tremendous success we've achieved at eOne.”
"There's a strong cultural fit between our two companies; eOne's stated mission is to unlock the power and value of creativity which aligns with Hasbro's corporate objectives. eOne teams will continue to do what they do best, bolstered by the access to Hasbro's extensive portfolio of richly creative IP and merchandising strength.
“In addition, the resulting expanded Hasbro presence in Canada through eOne's deep roots will bring world class talent and production capabilities to Hasbro.
“Along with our leadership team, I look forward to working with Hasbro on our joint growth and success for many years to come."
The acquisition will advance Hasbro's position as a leading global play and entertainment company, adding beloved, global preschool brands with proven success and strong financial returns across platforms to Hasbro's robust portfolio.
UK-listed eOne's capabilities to bring high-quality content across platforms will strengthen Hasbro's end-to-end ability to monetize and bring to market its IP in increasingly attractive new formats, including over-the-top (OTT) and premium platforms, music, location-based entertainment, AR and VR.
See all the winners from the Prolific London Awards
The inaugural event championed creative brilliance from across the capital