KKR Reportedly Considers Bid For Entertainment One After Rejected Offer From ITV

(RTTNews) - KKR & Co. (KKR) is considering a bid for Entertainment One Ltd. after rejected an offer from U.K. broadcaster ITV Plc (ITV.L), the Bloomberg reported, citing people familiar with the matter.

Canadian film and television producer and distributor Entertainment One rejected takeover offer from ITV after the two sides couldn't agree on a price. The Canadian company said the bid was too low but suggested it would be open to a higher one.

KKR is studying a potential proposal, though no final decision has been made and it could still decide against pursuing it, the report stated.

An acquisition would help KKR expand into media and entertainment, an industry where the New York-based buyout firm has been looking to grow, the report added.

ITV is prepared to raise its bid to as much as 280 pence per share, or 1.2 billion pounds, the Mail on Sunday reported without saying where it got the information or when a new offer would be submitted.