The investment firm will aim to beat ITV’s 236p-per-share bid and is already in talks with Entertainment One’s biggest shareholder, Canada Pension Plan Investment Board (CPPIB), Bloomberg has reported.
KKR has not made a final decision on whether it will pursue a deal and could still back out, sources with knowledge of the matter told the news agency.
A KKR spokesperson told AltAssets the firm does not comment on media speculation.
Entertainment One which produces the popular kids show Peppa Pig rejected ITV’s bid last week. The Canadian company’s board said in a statement the offer made by the UK broadcaster undervalued the business but showed willingness to consider a higher bid.
Based on current share price, the Canadian TV production group’s market capitalisation is around £900m.
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