News

Shareholders at Entertainment One approve takeover by Hasbro

Published on: October 18th, 2019

Hasbro’s board of directors has also voted to back the $4b cash acquisition.

It is reported that 99.9% percent of eOne shareholders approved the deal, either in person or via a proxy vote, during a special shareholders meeting in Toronto. Hasbro shareholders will not vote on the transaction; the board of directors has already voted to back the deal.

In a statement, Brian Goldner, chairman and CEO of Hasbro, welcomed eOne shareholders’ support for the deal: “Our two companies’ strategies are remarkably complementary, as we both build brands, creativity and storytelling. Together with eOne’s beloved global brands and expertise, we expect to leverage a combined portfolio with appeal to diverse audiences and consumers around the world.”

“We are very much looking forward to capitalising on the new opportunities this creates across film, television, music and family brands,” added eOne CEO Darren Throop.

Certain regulatory approvals and other closing conditions still need to be secured before the transaction can be completed. Under the terms of the deal, eOne shareholders will receive $6.80 in cash for each common share.

If you would like to receive our daily newsflash email, click here; you can also follow us on Twitter and Facebook and request a print subscription here.