The potential offer from North Promotions of 7.75p per share in cash with an alternative share in North Promotions.
The offer remains subject to a number of pre-conditions, and there is no guarantee an offer will be made.
Coolabi's brands include the new preschool series "Poppy Cat;" the classic small films brands Bagpuss and the Clangers; and the girls' tween brand Scarlett and Crimson. The company's revenues were for the first half of 2011 were £605,514, down from £961,670 for the same period last year.
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