December 30, 2019
Hasbro Dec. 30 announced that it has completed its previously announced $3.8 billion acquisition of Entertainment One Ltd. (eOne).
The all-cash transaction is valued at approximately £2.9 billion, based on the consideration of £5.60 per common share of eOne. Converted at a rate of 1.31 USD/GBP on Dec. 30, 2019, the total cash consideration was approximately $3.8 billion.
Hasbro also expects to redeem eOne’s outstanding senior secured notes and to pay off the debt outstanding under eOne’s revolving credit facility, which together represent approximately £0.6 billion of eOne’s debt.
“Our businesses are highly complementary with substantial synergies and a great cultural fit,” Hasbro’s CEO Brian Goldner said in a statement.
Goldner said eOne “accelerates our blueprint strategy” by expanding the gamer’s brand portfolio with eOne’s global preschool brands and “proven” TV and film expertise.
Darren Throop, CEO of eOne, will report to Goldner. In addition, eOne’s Olivier Dumont, president, family & brands, Steve Bertram, president, film & television, and Chris Taylor, global president, music, will also be joining Hasbro, reporting to Throop.