Thomas Tank takeover could be derailed by US firm
The US media firm behind children’s favourites The Incredible Hulk and Inspector Gadget today signalled a potential takeover battle for Thomas the Tank Engine owner Hit Entertainment.
Lions Gate Entertainment, which has also made films such as Michael Moore’s Fahrenheit 9/11, said it was considering making an offer for Hit.
It said it had asked to see the books of the London-based media company, which has already agreed a £489m (€714m) takeover with private equity group Apax Partners.
Lions Gate said in a statement: “There can be no assurance that any offer will be made.
“A further announcement will be made in due course.”
In March, Hit said its independent directors had backed a link-up with Apax and that it had won the support of shareholders owning 35% of the 16-year old firm.
Hit, which also owns Bob the Builder and Barney the Dinosaur, said then that new ownership would prepare it for further growth amid tough markets and a future with “significant risk”.
