U.S. toy maker Hasbro compel buy Entertainment One for about $4 billion (3.27 billion pounds) in cash, adding the independent studio with preschool varieties such as Peppa Pig and PJ Masks, the companies said on Thursday.
The deal provides the Nerf and Power Rangers toymaker with new jeopardy. It has been tying up with movie studios such as Paramount Pictures and Walt Disney to boost sales of phoneys linked to big movie franchises.
“Hasbro will leverage eOne’s immersive entertainment capabilities to bring our portfolio of makers that have appeal to gamers, fans and families to all screens globally,” Hasbro’s Chief Executive Officer Brian Goldner mentioned.
Hasbro will pay 5.60 pounds per share and will finance the deal with debt and $1.0 billion to $1.25 billion in realize from equity financing, the companies said.
Hasbro said it sees annual run rate synergies of about $130 million by 2022, stole by savings from a portion of eOne’s toy business in-house and improving the profitability of its licensing and merchandising activities.
(1 British belabour = $1.2249)