|Bid||556.50 x 0|
|Ask||557.50 x 0|
|Day's Range||556.50 - 560.00|
|52 Week Range||346.40 - 616.00|
|Beta (5Y Monthly)||0.51|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jan 06, 2020 - Jan 10, 2020|
|Forward Dividend & Yield||0.01 (0.27%)|
|Ex-Dividend Date||Jul 11, 2019|
|1y Target Est||422.43|
Toy giant Hasbro recently bought Entertainment One, known for shows like "Peppa Pig" and "PJ Masks" for $4 billion. Yahoo Finance's Brian Sozzi had a chance to chat with the CEO about what this means for the future of Hasbro in the streaming industry.
Hasbro is buying Entertainment One, the owner of 'Peppa Big' and 'PJ Masks,' for $4 billion cash. Yahoo Finance's YFi AM break down the details.
(Bloomberg) -- The absence of a long-speculated bid for ITV Plc hasn’t deterred merger and acquisition desks from naming the U.K. broadcaster as Europe’s most likely takeover target for a fourth year in a row.ITV appeared on the M&A watch lists of 6 out of 20 event-driven traders, analysts, brokers and fund managers surveyed by Bloomberg News. That follows a year in which the shares hit a multi-year low, before rallying to post a first annual gain in four.The continued presence of John Malone’s Liberty Global Inc. as the company’s second-largest shareholder has kept takeover hopes alive, while increased clarity on Brexit after the outcome of Britain’s general election also provided a boost for the shares. At the same time, the battle for content that will win eyeballs has been heating up. ITV launched U.K. streaming service BritBox with the British Broadcasting Corp. last year in a bid to compete with the likes of Netflix Inc. and Amazon.com Inc. Walt Disney Co.’s new streaming service, Disney+, is also reported to be launching in the U.K. this March. Despite the recent rally, ITV’s shares have been in the doldrums since 2016, with advertising sales under pressure from Brexit uncertainty as well as an industry shift in spending to digital companies such as Facebook Inc. and Alphabet Inc.’s Google. Chief Executive Officer Carolyn McCall, who has led the company since January 2018, has sought to cut costs while launching BritBox to reduce reliance on ad sales. Analysts have criticized the platform as being “too little, too late” in the streaming wars.Recent acquisitions of Sky Ltd. and Entertainment One Ltd. by U.S. companies have also stoked speculation that ITV could be a target for an overseas firm, while back in 2017 a press report mentioned U.S. tech giants such as Netflix, Amazon and Apple Inc. as potential suitors. Among upcoming catalysts, investors will be watching ITV’s full-year results due at the beginning of March.Luxury brand Moncler Spa and Dutch molecular-testing firm Qiagen NV also featured highly on trader watch lists. The former’s shares surged to a record last month on reports that rival Kering SA could be interested in a potential deal for the Italian ski-wear maker. Qiagen said in December it intended to pursue a stand-alone strategy, a month after announcing it received several indications of interest.According to Louis Capital’s Ben Kelly, the pace of consolidation in Europe is likely to gain momentum this year. Companies aren’t expected to worry about leveraging up their balance sheets for M&A given the low interest-rate environment, while private equity still has a lot of money to put to work and activists are more present than before, he said.“Increased political certainty in the U.K. and Europe and continued share-price strength could see companies looking to use their own paper to do deals, and bolstering that with cash where necessary,” Kelly said.Despite last year’s geopolitical tensions, almost $3 trillion of global mergers and acquisitions were done in 2019, a 1.5% dip from 2018 but still the fifth-best year ever. Goldman Sachs remained the top-ranked deal-maker in 2019, advising on 281 transactions worth $1 trillion, according to data compiled by Bloomberg.Survey participants named 75 companies as potential targets, including: Asos Plc and Smith & Nephew Plc in the U.K., Accor SA and Aeroports de Paris in France, and Norwegian Finans Holding ASA in Norway.Several stocks included in last year’s predictions have since either been acquired or held merger talks. These include: Osram Licht AG, Scout24 AG, Inmarsat Plc, Entertainment One Ltd., Deutsche Bank AG and Commerzbank AG.Click here for the complete survey results.(Adds detail on share price performance, additional context on ITV.)\--With assistance from Kit Rees.To contact the reporter on this story: William Canny in Amsterdam at firstname.lastname@example.orgTo contact the editors responsible for this story: Celeste Perri at email@example.com, Paul Jarvis, Beth MellorFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The UK's Competition and Markets Authority (CMA) had earlier said it will consider whether the deal could hurt competition and invited comments on the acquisition. In an email to Reuters, Hasbro said that it had been in talks with the CMA about the review, which could last up to 40 business days. Entertainment One declined to comment.
Britain's competition watchdog has launched a review of Hasbro Inc's proposed $4 billion deal to buy Peppa Pig owner Entertainment One, it said on Thursday. The UK's Competition and Markets Authority (CMA) had earlier said it will consider whether the deal could hurt competition and invited comments on the acquisition. In an email to Reuters, Hasbro said that it had been in talks with the CMA about the review, which could last up to 40 business days.
Moody's Investors Service ("Moody's") assigned a Baa3 rating to $2.375 billion of senior unsecured notes issued by Hasbro, Inc. ("Hasbro") in multiple tranches. Other ratings, including the company's Baa3 senior unsecured rating and Prime-3 short term rating, remain unchanged. The net proceeds will be used primarily for the acquisition of Entertainment One Ltd.
Moody's Investors Service ("Moody's") today downgraded Hasbro, Inc.'s ("Hasbro") senior unsecured rating to Baa3 from Baa1 and its rating for short term issuance to Prime-3 from Prime-2, concluding the review for downgrade initiated on August 23, 2019. The rating action follows the company's issuance of $875 million in equity to fund the previously announced $4 billion Entertainment One acquisition, which is expected to close late 2019 or early 2020.
Entertainment One Ltd on Friday posted a wider first-quarter loss, dented by lower sales in its film, television & music segment, as the Canada-based company prepares to be acquired by U.S. toy maker Hasbro Inc. Quarterly sales were dragged by leaner performance in the film, television & music division due to lower broadcasting and licensing revenues, the entertainment firm said. In August, Hasbro said it will buy Entertainment One for about $4 billion in cash, adding the independent studio with preschool brands such as Peppa Pig to the U.S. company known for Nerf and Power Rangers.
Moody's Investors Service ("Moody's") has today placed under review for upgrade the Ba3 corporate family rating (CFR) and the Ba3-PD probability of default rating (PDR) of Entertainment One Ltd. (Entertainment One or the company). Moody's has also placed under review for upgrade the B1 instrument rating on the GBP425 million backed senior secured notes due 2026 issued by the company. The rating action follows the announcement on 23 August 2019 that Hasbro, Inc. (Hasbro, Baa1 senior unsecured rating under review for downgrade) and Entertainment One have entered into a definitive agreement under which Hasbro will acquire Entertainment One in an all-cash transaction valued at approximately GBP3.3 billion or USD4.0 billion.
Moody's Investors Service ("Moody's") today placed Hasbro, Inc.'s ("Hasbro") Baa1/Prime-2 ratings on review for downgrade following its announcement that it will acquire UK-listed Entertainment One Ltd. for GBP3.3 billion or approximately $4.0 billion. Hasbro plans to fund the acquisition with debt and $1-$1.25 billion of equity. Moody's expects that if the deal closes and is funded as contemplated, that Hasbro's senior unsecured rating would be downgraded by at least one, but not more than two notches.