eOne shares buoyed by more takeover talk

New York private equity firm KKR & Co. is reportedly in pursuit of the Toronto-based media company.
August 15, 2016

Shares in Toronto, Canada-headquartered Entertainment One were given a lift once again by speculation over a potential upcoming offer for the companythis time, reportedly, from New York-based private equity firm KKR & Co.

Bloomberg reported over the weekend that KKR & Co, which sold off its shares in German’s Pro.SiebenSat. 1 in 2014, was looking to re-enter the media and entertainment sphere via such an acquisition, according to a source, and was looking at a potential proposal.

Last week, eOne rejected a £1 billion (US$1.3 billion) proposal from UK-based ITV, saying in a note to shareholders that the proposal “fundamentally undervalues the company and its prospects.”

However, press speculation since the rejection of the original bid has the UK broadcast and production giant still in the game, if another bid that meets the satisfaction of both its board and that of eOne is forwarded.

From Realscreen.

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