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"Sharecast News) - The Competition and Markets Authority said on Thursday that it was considering whether Hasbro's £3.3bn takeover of Peppa Pig owner Entertainment One would result in "a substantial lessening of competition".
The competition watchdog said it was inviting comments on the transaction from any interested party. It has given itself a deadline of 21 January 2020 to decide whether to refer the deal for a phase 2 investigation"
This is a little late and last minute isn't it? So now no hope of getting any money this year then and there was me with plans on what to spend it on .
Yes
Some big trades today, not sure if that's normal for a takeover ? Haven't checked in here for a while, but was expecting more news. Trades were going through above 600p on the announcement day, so others clearly thought there maybe more action here too (?). Wait and hope, was going to sell half my holding that day ...but didn't.
Anyone know when this is actually happening?
My understanding is that it is happening on or shortly after 18 Novembe
Anyone know when this is actually happening?
I am still hoping Peppa will save my bacon and don't say pigs might fly , please!
Bye Peppa. I’ve been long on this and stuck around after the Hasbro announcement in case of counter offers but it seems to be drifting down to the £5.60 offer price. I’m very happy with what I got. Good luck everyone.
As the pound falls , the liklihood of a counterbid grows imv. Give it a couple of days and something will happen imv.
Bspotter, a lot has changed in the last two years, Netflix has become dominant, Disney is playing catch up and other us companies are merging etc to secure more content. ETO has lots of valuable content that has become more valuable over the last two years. The question is who else might be prepared to py and how much? With a bidding war this could go to £7 - look what happened to sky just a year or so ago. Alternatively £5.60 could be highest bid. All imho.
Profit is never a profit until you take it.
If you are happy with what you have made then take it and look for your next investment.
Alternatively sell half your holding now and let the other half run.
US toy company Hasbro is set to acquire Entertainment One (ETO) as part of its strategy to expand its brand portfolio. The group will pay for 560p a share for the studio, valuing it at around £3.3bn.
The shares surged past the offer price following the announcement, presumably in anticipation of rival offers. Broker Numis said that while 560p was a fair price, it was “not necessarily knock-out value” if other companies in the media, entertainment or digital sectors saw the opportunity for greater synergies.
Hasbro expects the deal will drive $130m (£106m) in savings through insourcing Entertainment One’s toy business and improving profitability in licensing and merchandising.
IC View
The deal is further evidence of the M&A feeding frenzy for media content, which means while Hasbro’s price offers an attractive premium to Entertainment One’s recent trading – and our buy call – we are intrigued to see if further bids will emerge. Await documents at 573p
There must be a fair number of people expecting a counter bid since the share price on Friday has gone higher than what hasbro have offered, £5.60. This is new to me and I’m not sure what to do for the best. I have set a limit price to sell my shares but don’t want to get too greedy.
About ETO and the counter bid speculation also mentioned in today's press.
Why would another company counter bid when they could not be bothered when ITV offered about 225p a couple of years ago? Think about it.
I read that cct have a 2 year contract , so the cct fall looks overdone to me and I am also thinking about taking a position in cct . Problem is what to sell. Nevertheless the sp rise to over £6 suggests a counterbid is coming and CCT may have huge upside if the likes of netflix buy eto. Interesting to speculate.Good luck.
The existing deal with CCT must have been for a specific timeline.
It leaves CCT looking vulnerable.
Hasbro may strengthen the deal with CCT, who knows?
After a bit of research I've taken a position in CCT.
Snick, as i read the cct drop- the market has decided that hasbro won't use cct for peppa pig production -it is being slaughtered!
Great news for ETO holders although a higher price would have been better. Share price above the £5.60 offer implies a possible counter offer?
Knock on affect on CCT opens up another interesting play with share price nearly at a two year low.
Hi Taverham (new poster to ETO), I was looking at the large trades on H&L this morning: -
Time / date Buy / sell Volume Price Value
08:05 - 23/08 Buy 1439915 575.00p £8,279,511.25
08:02 - 23/08 Buy 250000 575.00p £1,437,500.00
08:41 - 23/08 Buy 250000 575.46p £1,438,650.00
all over the 5.60 offered, maybe there is another offer about to come out ?
All the best
BB
Dodger, I think Mark Gordon set about proving his worth to the company [ hundreds of millions] and he played a blinder. I am also hoping for a counter bid and I would rate the probability at 75%.
Call me cynical in my old age but you do have to wonder if recent share price weakness, the strange news about Mark Gordon leaving, not leaving was deliberate to keep the price low for this slightly low ball offer.
I’m really hoping for a counter offer :)
The americans are learning of this as they wake up and start their trading day - lets hope they buy big time!
Buy on a bid and i just did.
The modest premium to the bid price is encouraging, although could just as easily be short covering on news of an offer. This share has attracted a fair bit of attention from short sellers 8n the past ...
Having watched this company for some time, I suspect that other bidders will be putting forward bids in the coming days/weeks.
Trading at a premium...this might not be over yet :)