Way cleared for Apax/HIT deal

APAX's Sunshine Acquisitions looks like it has finally won in its bid to acquire HIT Entertainment, after its only rival, Lion's Gate pulled out of the race.
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APAX's Sunshine Acquisitions looks like it has finally won in its bid to acquire HIT Entertainment, after its only rival, Lion's Gate pulled out of the race.

No other companies are currently in discussions with HIT and the deal is likely to be completed by May 24th.

The proposed 300p a share takeover by Apax won the backing of more than 99 per cent of shareholder votes cast at a special meeting in London. The deal values Hit, owner of brands including Bob the Builder and Thomas the Tank Engine, at £489m.

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