News Worms
News Worms


USA toymaker Hasbro in fresh approach to acquire Mattel

USA toymaker Hasbro in fresh approach to acquire Mattel

According to the New York Times, Hasbro made the takeover offer in recent months and while details about the offer are unknown as is whether or not Hasbro and Mattel have been in any further talks about the offer, a deal would combine the two largest USA toymakers in more than two decades.

Hasbro's approach was made recently, the WSJ said, citing one person.

Mattel, the maker of Barbie and Hot Wheels, has been struggling to boost sales.

Mattel's stance toward Hasbro at this time is not clear, and it remains far from certain that a deal will materialise, the source said, asking not to be identified because the matter is confidential. By Friday afternoon, its shares had risen by around 24 percent. Hasbro shares were up 3.3%.

Mattel and Hasbro have held talks a number of times in the past, including as long ago as 1996 and as recently as late in 2015. Meanwhile Hasbro's stock is up almost 15% in the past year. Last month, Mattel said the toy retailer's bankruptcy - a result of shifting consumer preference for electronic toys and e-commerce - was a factor in the company's third quarter results and Mattel's sales have fallen 13 percent since past year. Mattel stock fell on that day to its lowest since 2009.

"Both companies would benefit from a merger, but Mattel stockholders might oppose a deal that values the company on its depressed stock price, " said Erik Gordon, a professor at the University of Michigan's Ross School of Business. The company reported a decline in sales after Toys R' Us filed for bankruptcy in September.

That deal would have given Hasbro a direct pipeline into Hollywood, with more movies and TV shows tied to its toy brands.

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