Hasbro to buy studio Entertainment One, home of Peppa Pig, for $4 billion
(Reuters) - U.S. toy maker Hasbro Inc will buy Entertainment One Ltd for about $4 billion (3.27 billion pounds) in cash, adding the independent studio with preschool brands such as Peppa Pig and PJ Masks, the companies said on Thursday. The deal provides the Nerf and Power Rangers toymaker with new exposure.
(Reuters) - U.S. toy maker Hasbro Inc
The deal provides the Nerf and Power Rangers toymaker with new exposure. It has been tying up with movie studios such as Paramount Pictures and Walt Disney Co to boost sales of toys linked to big movie franchises.
"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," Hasbro's Chief Executive Officer Brian Goldner said.
Hasbro will pay 5.60 pounds per share and will finance the deal with debt and $1.0 billion to $1.25 billion in cash from equity financing, the companies said.
Hasbro said it sees annual run rate synergies of about $130 million by 2022, helped by savings from a portion of eOne's toy business in-house and improving the profitability of its licensing and merchandising activities.
(1 British pound = $1.2249)
(Reporting by Peter Henderson; editing by Jonathan Oatis, Bernard Orr)
This story has not been edited by Firstpost staff and is generated by auto-feed.
Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.
By James Davey LONDON (Reuters) - Distribution of several British newspapers was disrupted on Saturday after climate change activists blockaded printworks used by Rupert Murdoch's News UK, publisher of The Times and The Sun, drawing condemnation from Prime Minister Boris Johnson.
PARIS (Reuters) - France denied the European Union's Brexit negotiator Michel Barnier was about to be sidelined by EU leaders in a bid to break the deadlock in trade talks, as reported by British newspaper the Daily Telegraph. Twisting a famous British war slogan, European affairs minister Clement Beaune tweeted on Saturday: "Keep calm and support Michel Barnier".
MEXICO CITY (Reuters) - Mexico's National Electoral Institute (INE) has denied former President Felipe Calderon's bid to register his Free Mexico movement as a new political party, saying some of its funding was questionable.