Magazine article Screen International

Entertainment One Rejects ITV Takeover Bid

Magazine article Screen International

Entertainment One Rejects ITV Takeover Bid

Article excerpt

Canadian film and TV giant Entertainment One (eOne) has rejected a takeover bid from UK broadcaster ITV.

The offer valued Entertainment One at 236p per share and close to $1.3bn (£1bn) total.

However, eOne has announced that its board "unanimously rejected it [the offer] on the basis that it fundamentally undervalues the company and its prospects".

The company's value surged 10% yesterday, closing at 217.5p per share, meaning its overall value has surpassed $1170m (£900m).

eOne has a library of 40,000 film and television titles including the Twilight franchise in Canada and the UK and the hit children's TV series Peppa Pig. Its recent production credits include Toronto title Message From The King and drone warfare thriller Eye In The Sky.

Entertainment One, which has its HQ in Toronto but is listed in London, holds a 51% stake in the Mark Gordon Company, which produces series Grey's Anatomy. …

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