Hasbro buying Entertainment One in all-cash $4B deal
Toymaker giant Hasbro, known for popular brands Nerf and My Little Pony, has agreed to buy Canadian media brand Entertainment One, in an all-cash $4 billion deal.
The acquisition will bring more well-known brands, such as Peppa Pig, to Hasbro.
Entertainment One stockholders, per a company press release, will receive 5.6 British pounds, or approximately $6.80, for each share, a 31 percent premium to the 30-day volume-weighted average price as of Thursday.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| HAS | HASBRO INC. | 62.52 | +0.61 | +0.99% |
“By combining two profitable and financially disciplined companies, we expect to unlock value in the short- and long-term for our stakeholders,” Deborah Thomas, Hasbro chief financial officer, said.
Entertainment One’s “brands and TV and film expertise, with Hasbro’s brands, toy and game innovation and licensing capabilities, positions us to more quickly drive revenue and profit over the medium-term. We remain committed to maintaining an investment grade rating and returning to our gross Debt to EBITDA target of 2.00 to 2.50X.”
Entertainment One has been the subject periodic takeover speculation over the past few years, according to the Hollywood Reporter, but has recently shaped its business around its TV vertical, as well as its international sales and production operation.
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