May 10, 2017 / 2:06 PM / 3 months ago

BUZZ-Iconix: DHX to buy Strawberry Shortcake, Peanuts stake for $345 mln

** U.S. brand management company Iconix Brand Group Inc's shares up 16 pct at $8.12 - rises 16.7 pct to touch a more than 2-month high of $8.17

** DHX Media Ltd agrees to buy the entertainment unit of Iconix, including Peanuts brand and cartoon character Strawberry Shortcake, for $345 mln

** U.S.-listed shares of DHX were down 4 pct at $4.20; fell as much as 5.7 pct; Toronto listed shares fall as much as 5 pct

** DHX will fund deal through combination of cash on hand, new debt financing facility and a private placement offering of subscription receipts exchangeable for convertible debentures

** DHX says deal to be 6 pct to 10 pct accretive to EPS, on pro-forma basis

** Up to Tuesday's close, DHX's Toronto-listed stock had fallen 15.6 pct this year, while Iconix's shares had fallen 25.1 pct

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