Peppa Pig owner snubs takeover from ITV

London : The London-listed company behind Peppa Pig, the popular children's cartoon series, has snubbed a £1.0-billion ($1.3-billion, 1.2-billion-euro) bid from television broadcaster ITV, it said Wednesday.

Canada-based Entertainment One said in a statement that it had "unanimously rejected" an informal takeover approach worth 236 pence per share, arguing that it "fundamentally undervalues the company and its prospects".

The firm which is listed on the London Stock Exchange, owns the rights to television shows including Peppa Pig, and holds more than 40,000 film and television titles.