21st Oct 2019 16:59
(Alliance News) - Entertainment One Ltd said Monday it has gained a final order from the Ontario Superior Court of Justice, approving its GBP3.3 billion acquisition by US toy maker Hasbro Inc.
In August, Hasbro announced its intention to acquire the Peppa Pig maker in an all-cash transaction valued at GBP3.3 billion. Under the terms of the agreement, Entertainment One shareholders will receive GBP5.60 in cash for each share.
The deal remains subject to certain regulatory approvals and other closing conditions. So far the deal has gained antitrust approval in the US and Germany. The deal is expected to close in the fourth quarter of 2019.
Shares in Entertainment One closed down 0.1% at 558.0 pence on Monday in London, while Hasbro shares were down 0.9% at USD120.84 in New York.
By Dayo Laniyan; [email protected]
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