Peppa Pig maker Entertainment One denies ITV takeover approach, but sees share price jump

 
William Turvill
Follow William
Hamleys Make Their Christmas 2015 Toy Predictions
Peppa Pig owner eOne is valued at $964m (£683m) (Source: Getty)

Shares in Entertainment One leapt this morning following claims ITV is considering a takeover bid for the Peppa Pig owner.

But the Canadian film distributor, which has a market valuation of $964m (£683m), denied reports of the approach.

It told shareholders this morning: "Entertainment One notes the press speculation regarding a potential offer. No approach has been received by eOne."

ITV, meanwhile, has declined to comment.

Read more: ITV shares drop despite growth and Euro football hopes

Bloomberg reported that ITV, which broadcasts Downton Abbey, has been in discussions with the firm over a possible deal.

No final decision has been made and the talks may not result in a deal, it reported.

EOne's share price closed at 158.6p yesterday. Shortly after 8am this morning it had leapt by 11 per cent to 176.15p.

14 April 2016 @ 8:30amEntertainment One Ltd (ETO)

Read more: ITV shares drop despite growth and Euro football hope

ITV's share price was relatively flat at 240.9p.

Media analysts at Liberum reacted positively to news of the deal, saying it would be a good move for ITV.

The team, led by Ian Whittaker, said in a note: "We believe that this deal would make sense for ITV, ITV has the financial capability to do this deal and acquiring EOne's business would significantly build ITV's content reach."

Related articles