BASIL Brush owners Entertainment Rights had a takeover approach rejected by rivals Chorion, it was announced last night.
Noddy owner Chorion said it had rejected the hostile bid because it "significantly undervalued" its assets.
A successful takeover would bring together characters ranging from Postman Pat to the Famous Five.
Entertainment Rights promotes Barbie and Transformers, as well as holding the rights to celebrity fox Basil Brush's television shows and recent single.
Chorion, also based in London, owns the rights to all Enid Blyton and Agatha Christie's novels.
Today it will launch the chart single Make Way For Noddy, which it hopes will become the Christmas number one.
The company is also understood to be in advanced talks with the family of Roger Hargreaves to gain control of the Mr Men brands.
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