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Peppa Pig-owner Entertainment One rejects approach from ITV

Reuters - UK Focus

LONDON, Aug 10 (Reuters) - Canada's Entertainment One (Other OTC: ENTMF - news) , the owner of children's TV brand Peppa Pig, said its board had rejected a takeover offer priced at 236 pence a share which, according to a source, came from broadcaster ITV (LSE: ITV.L - news) .

"The board of eOne has reviewed the proposal and has unanimously rejected it on basis that it fundamentally undervalues the company and its prospects," it said on Wednesday.

Shares (Berlin: DI6.BE - news) in Entertainment One closed at 217.5 pence on Tuesday.

(Reporting by Paul Sandle; editing by Kate Holton)