Hasbro: acquires owner of 'Peppa Pig' brand
(CercleFinance.com) - Hasbro announced on Friday that it has reached an agreement to acquire the British Entertainment One (eOne) cartoon studio for around 4 billion dollars.
The American toy maker, which owns brands such as "My Little Pony" and "Transformers", says the deal will aneble it to strengthen its catalog by adding two franchises that are particularly appreciated by preschoolers - "Peppa Pig" and "Pajamasques".
Hasbro expects the transaction to generate estimated synergies of approximately 130 million dollars by 2022.
Under the terms of the deal, it is expected that eOne shareholders will receive 560 pence in cash for each of their shares, a price representing a premium of 30% over the average share price seen in the last 30 trading sessions.
The eOne share price is currently soaring 32% on the London Stock Exchange, at 587 pence.
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