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KKR eyeing possible bid for Entertainment One, ITV ponders higher offer

Sun, 14th Aug 2016 20:48

(ShareCast News) - Entertainment One had caught the eye of US private equity outfit KKR, which is considering a bid, Bloomberg reported citing people familiar with the matter.For its part, The Mail on Sunday reported that ITV might be willing to pay up to 280p a share or almost £1.2bn for Entertainment One.The reports came after Entertainment One´s decision to rebuff a 236p-a share offer from UK broadcaster ITV during the previous week.However, KKR had not yet reached a final determination and might still decide against such course of action, the same people told the newswire. Similarly, it was not clear when ITV would submit an improved offer.One of Bloomberg´s sources also said KKR was keen to expand its footprint in the media and entertainment space.Shares of Entertainment One edged lower by 0.33% on 12 August, finishing at 238.80p, giving the owner of the Peppa Pig franchise for pre-schoolers a £1,020.40m market capitalisation."The likelihood of a further offer, acceptable to ETO shareholders, is currently unclear."[...] There is clearly no certainty a further offer will be made at a higher price, but the bid provides a useful benchmark for valuation purposes. Even at the bid price the shares still trade at a discount to peers, on 9.3x calendar 2016E EV/EBITDA. Our new target price of 236p (previously 225p) is in line with the rejected offer, and is consistent with our previous methodology of a c.15% discount to its peer group," Canaccord Genuity analysts David Amiras and Simon Davies said in a research note sent to clients on 11 August.
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20 Jan 2016 18:02

UPDATE 2-Activist Livermore calls for strategic change at Entertainment One

(Adds Wednesday share move, background on CPPIB pension fund stake, paragraphs 8, 14) By John Tilak TORONTO, Jan 20 (Reuters) - U.S. activist hedge fund Livermore Partners is calling on Canadian and UK media firm Entertainment One to slow down its pace of dealmaking and improve its ca

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20 Jan 2016 16:13

Activist Livermore calls for strategic change at Entertainment One

TORONTO, Jan 20 (Reuters) - U.S. activist hedge fund Livermore Partners is calling on Canadian and UK media company Entertainment One to slow down its pace of dealmaking and improve its cash flow, the fund's top executive said. Livermore could also push Entertainment One into a sale of the

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15 Jan 2016 08:50

Canada Pension Plan head joins Entertainment One board

(ShareCast News) - Canada Pension Plan Investment Board's Scott Lawrence has joined the board of Entertainment One as a non-executive director. Lawrence is the managing director and head of relationship investments at the investment board, which holds a 19.8% stake in the company which produces Pepp

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22 Dec 2015 13:13

Newspaper share tips: ITV sale rumours not worth much

(ShareCast News) - The Financial Times was looking at swirling rumours around the UK's biggest commercial broadcaster, while the Telegraph was looking back on its mistakes this week. FT's Lex column looked to television on Tuesday, amid the circulating rumours that oft-maligned US media giant Comcas

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18 Dec 2015 15:26

FTSE 250 movers: Market to end the day in the red

(ShareCast News) - The FTSE 250 was on track to finish Friday in the red after being bolstered on Thursday after the Fed rate hike. The market was down 72.46 points (0.42%) to 17,104.82 by mid-afternoon. Entertainment One undid Thursday's gains from its announcement it had extended its output agreem

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17 Dec 2015 17:16

LONDON MARKET CLOSE: Wall Street Losses Weaken UK Gains

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17 Dec 2015 15:04

FTSE 250 movers: Entertainment One deal boosts share price

(ShareCast News) - The FTSE 250 was up on the back of Wednesday night's rate hike from the Federal Reserve, up 122.43 points (0.72%) to 17,198.37 by mid-afternoon Thursday. Entertainment One surged over 5% after it announced it had extended its output agreement with DreamWorks Pictures through the c

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17 Dec 2015 12:19

LONDON MARKET MIDDAY: US Stocks Set To Add To Fed-Inspired Rally

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17 Dec 2015 11:02

Peppa Pig joins with Spielberg for new film venture

Dec 17 (Reuters) - Peppa Pig maker Entertainment One has teamed up with Steven Spielberg's DreamWorks Pictures to create a new film, television and digital content company to expand beyond its popular cartoon show. The joint venture company, Amblin Partners, will take on film distribution

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17 Dec 2015 10:48

WINNERS & LOSERS SUMMARY: Banks Up, Housebuilders Down After Fed Move

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17 Dec 2015 08:32

LONDON MARKET OPEN: Fed Rate Hike Sparks Global Stock-Market Rally

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17 Dec 2015 07:45

Entertainment One extends deal with DreamWorks through new partnership

(ShareCast News) - Entertainment One has extended its output agreement with DreamWorks Pictures through the creation of a new partnership. Along with some of the biggest names in the film industry including Steven Spielberg, the FTSE 250 company has joined a new film, television and digital content

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17 Dec 2015 07:41

Entertainment One Teams With Steven Speilberg For Amblin Partners

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16 Dec 2015 09:50

BROKER RATINGS SUMMARY: Exane BNP Raises Pearson To Outperform

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14 Dec 2015 15:14

FTSE 250 movers: Commodities downturn clobbers midcaps

(ShareCast News) - The FTSE 250 bounced around on Monday with the market in the red by mid-afternoon, down 16.77 points (0.10%) to 16,860.52. The commodities downturn hit a number of FTSE 250 companies on Monday, with Evraz down over 15% by mid-afternoon. Three-month metal contracts were down, with

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