BUSINESS

Entertainment One preparing to complete $225-million takeover of Alliance Films

01/03/2013 11:47 EST | Updated 03/05/2013 05:12 EST
TORONTO - The proposed $225-million takeover of Alliance Films by Entertainment One has cleared a key regulatory hurdle.

eOne (LSE:ETO) says a waiting period required under Canadian law has passed without intervention by the federal Competition Bureau.

Entertainment One says it will now move to close the deal as soon as possible.

eOne specializes in the acquisition, production and distribution of film and television content in Canada, the United States and several other countries.

Alliance Films is one of the top five independent filmed entertainment companies in the world and is a leading film distributor, co-financier and producer

Among its recent films is "Looper" — a sci-fi action film about time travel.