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KKR Stock Advancing on Entertainment One Bid

NEW YORK (TheStreet) -- Shares of KKR (KKR) were climbing early Monday morning after the New York-based private equity firm began to seek a bid for television distributor Entertainment One (ENTMF), Bloomberg reports.

Entertainment One, based in Toronto, owns the preschool cartoon character "Peppa Pig." The company recently rejected a $1.3 billion bid from British broadcasting company ITV (ITVPF).

Entertainment One said ITV's deal "fundamentally undervalues" the company, and it is seeking a higher price, Bloomberg reported.

KKR is still...