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BREAKING NEWS

Hasbro to buy studio Entertainment One for $4 billion

Hasbro to buy studio Entertainment One for $4 billion
FILE PHOTO: People dressed as characters from the animated series "Peppa Pig" take part in a parade in Hangzhou, Zhejiang province, China April 29, 2018. REUTERS/Stringer -
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CHINA STRINGER NETWORK(Reuters)
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SANFRANCISCO (Reuters) – U.S. toy maker Hasbro Inc <HAS.O> will buy Entertainment One Ltd <ETO.L> for about $4 billion (3.26 billion pounds) in cash, adding the independent studio with preschool brands such as Peppa Pig to the U.S. company known for Nerf and Power Rangers, the companies said on Thursday.

Hasbro will pay 5.60 pounds per share and will finance the deal with debt and $1.0-1.25 billion in cash from equity financing, the companies said.

(Reporting by Peter Henderson; editing by Jonathan Oatis)

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