Chorion now linked to Hit bid

Mr. Men and Noddy company Chorion is now the latest firm to be linked to the takeover bid for Hit Entertainment.

The company is now in closer stages of securing a January bid for £1 billion. Hit Entertainment has now shortlisted three companies for the takeover, one of them being Chorion.

Chorion chairman Lord Waheed Alli has made it clear that he wants closer links with Hit Entertainment, either a full merger or a commercial tie-up.

The new investor will be chosen in the next two weeks with help from the investment bank Jefferies which Chorion has appointed.

If the deal comes to fruition, it would see the two businesses rolled together, with 3i who owns Chorion maintaining a minority stake.

The report comes from The Sunday Telegraph, in an unsourced story.