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‘Peppa Pig’ Owner Entertainment One Rejects ITV Takeover Bid

ITV said attracted by EOne’s content, distribution assets
Offer for 236 pence a share is 8.5% above Tuesday close

Entertainment One Rejects ITV Takeover Bid

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By Eric Pfanner and Matthew Campbell

August 10, 2016 at 6:11 AM UTC

Updated on

August 10, 2016 at 4:34 PM UTC

This article is for subscribers only.

Entertainment One Ltd., the film and TV distributor known for popular cartoon character “Peppa Pig,” rejected a takeover offer from ITV Plc that values the business at about 1 billion pounds ($1.3 billion), and suggested it’s seeking a higher price.

The 236 pence-per-share proposal represents an 8.5 percent premium to Entertainment One’s closing price on Tuesday. The Canadian company said the offer “fundamentally undervalues” Entertainment One and that ITV, a U.K. broadcaster, may come back.