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eOne weighs sale after approaches

Canadian producer-distributor Entertainment One (eOne) could be set to change hands. The company confirmed it has appointed JP Morgan and Credit Suisse to conduct a review after receiving approaches "from various parties."
September 14, 2011

Canadian producer-distributor Entertainment One (eOne) could be set to change hands. The company confirmed it has appointed JP Morgan and Credit Suisse to conduct a review after receiving approaches “from various parties.”

UK reports suggest that eOne – which notably owns half of the children’s property Peppa Pig and distributes the hit Twilight movies – could seek a price tag of as much as £400 million (US$631.5 million).

In an announcement on the London Stock Exchange, the company said: “The board of Entertainment One notes the recent press speculation and confirms that it is considering its strategic options, which may include a sale of the company in response to interest it has received from various parties.”

The firm added that JP Morgan and Credit Suisse had been engaged to co-ordinate a review of the company for the board. “There can be no certainty that an offer will be forthcoming for the company,” it said. “A further announcement will be made in due course.”

Shares in the firm rose more than 13% on the news, trading at 185 pence earlier this morning.

From Adam Benzine at Realscreen.

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