PAWTUCKET, R.I.--(BUSINESS WIRE)–Hasbro, Inc. (NASDAQ: HAS) today announced that Entertainment One Ltd. (LSE: ETO) (eOne) shareholders have voted to approve the proposal for Hasbro to acquire eOne in an all-cash transaction valued at approximately £3.3 billion or US$4.0 billion, pursuant to the definitive arrangement agreement between the parties.
More than 99.9% of the votes cast at the eOne special meeting of shareholders held earlier today voted in favor of the transaction.
“We’re pleased that eOne shareholders support this transaction,” said Brian Goldner, chairman and chief executive officer of Hasbro. “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.”
“In our commitment to unlocking the power and value of creativity, the combination of our two businesses makes perfect sense for eOne,” said Darren Throop, chief executive officer of eOne. “eOne has long been anchored by great IP, and we believe that with Hasbro’s world-class portfolio of brands we will be able to deliver on their brand blueprint with a slate of content that lives globally across a broad spectrum of media. We are very much looking forward to capitalizing on the new opportunities this creates across film, television, music and family brands.”
The transaction, which is structured as a statutory plan of arrangement under the Canada Business Corporations Act, remains subject to receipt of certain regulatory approvals and other customary closing conditions including a final order of the Ontario Superior Court of Justice. The transaction has received several regulatory approvals so far, including early termination of the waiting period under the Hart Scott Rodino Antitrust Improvements Act in the U.S. and antitrust approval in Germany. The transaction is expected to close during the fourth quarter of 2019.
Hasbro (NASDAQ: HAS) is a global play and entertainment company committed to Creating the World’s Best Play Experiences. From toys and games to television, movies, digital gaming and consumer products, Hasbro offers a variety of ways for audiences to experience its iconic brands, including NERF, MY LITTLE PONY, TRANSFORMERS, PLAY-DOH, MONOPOLY, BABY ALIVE, MAGIC: THE GATHERING and POWER RANGERS, as well as premier partner brands. Through its entertainment labels, Allspark Pictures and Allspark Animation, Hasbro is building its brands globally through great storytelling and content on all screens. Hasbro is committed to making the world a better place for children and their families through corporate social responsibility and philanthropy. Hasbro ranked No. 13 on the 2019 100 Best Corporate Citizens list by CR Magazine, and has been named one of the World’s Most Ethical Companies® by Ethisphere Institute for the past eight years. Learn more at www.hasbro.com, and follow us on Twitter (@Hasbro) and Instagram (@Hasbro).
About Entertainment One
Entertainment One Ltd. (LSE: ETO) is a global independent studio that specialises in the development, acquisition, production, financing, distribution and sales of entertainment content. Entertainment One’s diversified expertise spans across film, television and music production and sales, family programming, merchandising and licensing, and digital content. Through its global reach and expansive scale, powered by deep local market knowledge, Entertainment One delivers the best content to the world.
Entertainment One’s robust network includes international feature film distribution company Sierra/Affinity; Amblin Partners with DreamWorks Studios, Participant Media, and Reliance Entertainment; Makeready with Brad Weston; unscripted television production companies Whizz Kid Entertainment and Renegade 83; live entertainment leaders Round Room Entertainment; world-class music labels Dualtone Music Group and Last Gang; creator and publisher of original high quality film and television music Audio Network; and award-winning emerging content and technology studio Secret Location.