Investors Peppa Pig out on EOne shares as more takeover interest emerges

 
William Turvill
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Entertainment One, which owns Peppa Pig, rejected a £1bn takeover approach from ITV last week (Source: Getty)

Peppa Pig owner Entertainment One’s share price soared on Monday morning after more takeover interest in the company emerged over the weekend.

Broadcaster ITV had a £1bn bid for EOne rejected last week, with the target company saying the offer “fundamentally undervalues” it.

Read more: Competition emerges for ITV in pursuit of Peppa Pig owner EOne

It emerged over the weekend that private equity house KKR is also considering making an approach, and held talks with EOne’s main shareholder CPPIB prior to the ITV bid.

KKR, whose UK investments include Pets At Home and the Trainline, has not responded to request for comment. EOne and CPPIB, a Canadian pension fund, also declined to comment when contacted by City A.M. over the weekend.

Read more: Peppa Pig maker turns down £1bn takeover offer

EOne’s share price shot up by more than 20 per cent last week after ITV’s offer emerged – from below 200p to more than 240p.

And shares in the London-listed, Canada-based company soared further today – up seven per cent to 255p at the time of writing.

15 August 2016 @ 8:45amEntertainment One Ltd (ETO)

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