Hit Entertainment has extended the deadline for rival bidders to step in and scupper a£489m offer from Apax Partners. Hit, the company behind Thomas the Tank Engineand Bob the Builder, said it would give two potential bidders a further 25 days to trump Apax's bid of 300p a share. Apax opened its books to Canadian film and TV studio Lion's Gate Entertainment earlier this month and a second bid is believed to be coming from US media group Classic Media, the owner of Lassie. The two have until 13 May to make an offer.
Hit Entertainment has extended the deadline for rival bidders to step in and scupper a£489m offer from Apax Partners. Hit, the company behind Thomas the Tank Engineand Bob the Builder, said it would give two potential bidders a further 25 days to trump Apax's bid of 300p a share. Apax opened its books to Canadian film and TV studio Lion's Gate Entertainment earlier this month and a second bid is believed to be coming from US media group Classic Media, the owner of Lassie. The two have until 13 May to make an offer.