Hasbro’s US$3.8 billion deal to acquire film and TV studio Entertainment One has been given the green light by the UK’s antitrust body.
The Competition and Markets Authority (CMA) announced in November that it would investigate the takeover, which was first announced in August, to establish whether it results in a “substantial lessening of competition” in the UK.
The CMA said it would decide this month whether to clear the merger or escalate its investigation into a more detailed Phase 2 probe, involving a 24-week review. It has opted to waive through the takeover.
“The CMA has cleared the anticipated acquisition by Hasbro Inc. of Entertainment One Ltd. The full text of the decision will be available shortly,” the CMA stated.
Hasbro announced earlier this month that it had completed its acquisition of eOne, in an all-cash transaction. The combination of the two companies blends eOne’s preschool brands like Peppa Pig and PJ Masks with Hasbro’s TV and film expertise, which has taken a leap over the past decade through franchises like Transformers.
