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