Hasbro Makes a Big Acquisition
Hasbro (NASDAQ: HAS) announced on Thursday that it would acquire studio Entertainment One (eOne) in an all-cash deal valued at 3.3 billion pounds ($4 billion). Under the terms of the agreement, Hasbro will pay 5.6 pounds ($6.86 at current exchange rates) for each share of eOne stock, a 31% premium to its recent price. The transaction has been unanimously approved by the board of directors of both Hasbro and eOne.
eOne is the indie studio behind such well-known kids programming as Peppa Pig and PJ Masks. In a press release, Hasbro said that in addition to the company's beloved brands, eOne "dramatically enhances [its] storytelling capabilities and franchise economics in TV, film, and other mediums to strengthen Hasbro's brands."
Peppa Pig and her brother George. Image Source: eOne.
Source Fool.com
