Friday 23 August 2019 9:05 am

Bringing home the bacon: Peppa Pig maker Entertainment One’s share price soars after Hasbro deal

Peppa Pig maker Entertainment One soared by almost a third on the exchange this morning as it yesterday announced a $4bn (£3.3bn) deal with US toy giant Hasbro.

The company’s shares reached as high as 579p as markets opened this morning, 30.5 per cent up.

Read more: Hasbro swoops on Peppa Pig-maker Entertainment One in $4bn deal

It marks a premium on the 560p all-cash offer price which was 31 per cent above the company’s 30-day average listing price.

Shares closed at 443p yesterday afternoon before the deal was announced.

The deal came even after the company in May said that full year pre-tax profit fell 43 per cent to £37m.

“The acquisition of eOne adds beloved story-led global family brands that deliver strong operating returns to Hasbro’s portfolio and provides a pipeline of new brand creation driven by family-oriented storytelling,” said Hasbro chief executive Brian Goldner.

Read more: Profits slip at Entertainment One after £61m write down

“We are excited to welcome eOne’s talented employees from around the world into the Hasbro family.”

Entertainment One boss Allan Leighton yesterday said the deal “creates significant, immediate value for our shareholders.”