Economy

Hasbro reportedly offered to buy Mattel

Hasbro reportedly offered to buy Mattel

US toymaker Hasbro Inc (HAS.O) has made a takeover approach for rival Mattel Inc (MAT.O), the Wall Street Journal reported on Friday, citing people familiar with the matter. Hasbro owns Nerf, Transformers, and My Little Pony, while Mattel makes Barbie and American Girl dolls, along with Fisher-Price and Hot Wheels toys.

- Hasbro Inc (HAS.O) has made an approach to acquire rival Mattel Inc (MAT.O), a source familiar with the matter said on Friday, the latest attempt to combine the two biggest USA toymakers in more than two decades. The terms of any possible deal couldn't be learned, and the approach may go nowhere. A combined company would have more pricing power to negotiate with entertainment studios over TV and movie franchises. Mattel was not immediately available for comment.

Shares in Mattel reacted positively to the news as they shot up by 24% during Friday afterhours trading. Conversely, Hasbro shares have increased 8 percent bringing its market value to an impressive $11.4 billion.

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Mattel has cited the bankruptcy as one reason it has experienced weaker sales.

CEO Margo Georgiadis, who took the reins in January, has warned the business would miss its revenue forecast for the full year.

But, the deal could be an opportunity for Mattel, which has struggled financially in recent years.

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Hasbro and Mattel have had talks several times over the years, including in 1996 and again sometime in late 2015.

If completed that deal would have given Hasbro a much needed direct line to Hollywood with more television shows and movies tied to toy brands.

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Four of Baylor's sport programs earned a flawless GSR score of 100, including men's golf, women's golf, soccer and women's tennis. Overall, Nevada has seen more than 800 of its student-athletes graduate in the past dozen years.


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