Peppa owner halts sale
ENTERTAINMENT One, the listed media company, will announce this morning that it is ditching a sale of itself in favour of a major acquisition, City A.M. understands.
The move concludes a strategic review for the owner of Peppa Pig and distributor of the Twilight movies, which the market had expected to end in a sale of the company.
But a source said that none of the offers on the table were appealing enough to get the board’s recommendation.
Instead, the company will press ahead with a significant acquisition, although the exact size of a potential purchase is not yet clear.
JP Morgan’s Harry Hampson and David Harvey-Evers as well as Credit Suisse’s Alastair Blackman and Joe Hannon were working on the review of various strategic options for the company.