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U.S. toymaker Hasbro on Monday closed its $3.8 billion merger deal for Canadian indie studio Entertainment One.
“We are excited about what we can do together and see tremendous opportunity for shareholder value creation through this acquisition,” Brian Goldner, Hasbro chairman and CEO, said in a statement.
Under the terms of the deal, eOne shareholders received $6.80 in cash for each common share, with eOne CEO Darren Throop reporting to Goldner. Stock in eOne on Monday was suspended on the London Stock Exchange as the takeover neared a conclusion.
eOne shareholders in October approved the all-cash transaction first unveiled last August. The deal aims to give Hasbro kids series from eOne like Peppa Pig and PJ Masks and other top properties like Nickelodeon’s Ricky Zoom.
The U.S. toymaker will be looking to drive new licensing revenues from newly acquired family brands, while the Canadian studio will also serve as a production arm for Hasbro.
eOne in recent years has shaped its business around Designated Survivor producer Mark Gordon and eOne Television; the family unit, driven by its Peppa Pig and PJ Masks franchises; international sales and production operation Sierra/Affinity; a partnership in Amblin Partners with Steven Spielberg, Participant Media and Reliance Entertainment; and Brad Weston’s film and TV producer Makeready.