Peppa Pig, a billion pounds is not enough. Entertainment One refuses the offer of ITV – The Daily

One billion is too little to Peppa Pig . The Canadian company Entertainment One , owner of the brand of the famous cartoon has rejected a takeover offer from 236 pence per share – 1.01 billion pounds – reached by the British television Itv . “The eOne board of directors has examined the proposal and rejected it unanimously, on the basis that underestimation the company and its prospects”, reports Reuters .

the company based in Toronto said that only the rights of his “library” were evaluated for a figure over a billion the year last year and includes more than 40,000 titles movies and television and 4,500 hours of television programming and 45,000 music tracks. Also last year were acquired the European license rights to the film DreamWorks Studios BFG directed by Steven Spielberg.

ITV is the biggest private broadcaster of content unencrypted of the United Kingdom. For years pursuing an acquisition campaign of other production companies, including 51% The Mark Gordon Company , the producer of the series Grey’s Anatomy and movies like Steve Jobs and Saving Private Ryan . The current goal is to incorporate mainly manufacturers of comedies and reality shows, to try to reduce the dependence on the advertising . Buy the Canadian company would expand the direct production of television content, especially for the family, as well as broaden the international film distribution capacity.

The offer of 236 pence per share in cash entailed a increase 19% on the closing price of eOne Unregistered Tuesday the London Stock Exchange. But Canadians have raised their at 245 pence per share , depending on their growth estimates for basic earnings, expected in the year that will end in March 2017: 152.6 million pounds compared with 129.1 million last year.

However, according to a Investec published last month, appears only eOne relatively attractive on the market, since 80% of its sales take place outside of Britain and the decline in the value of sterling, after Brexit , creates serious concerns.

->