Hasbro Reportedly Trying to Acquire Mattel

12 November, 2017, 02:22 | Author: Terri Saunders
  • Hasbro Reportedly Trying to Acquire Mattel

Hasbro Inc. has made a takeover offer for rival Mattel Inc., according to people familiar with the matter, a potential combination that would unite the two biggest US toy makers and put Barbie and G.I. Joe under the same roof.

Mattel's Wonder Woman doll is seen at the 114th North American International Toy Fair in New York City, U.S. on February 21, 2017.

Shares of Mattel, which makes Barbie dolls and Hot Wheels, dropped 47 percent this year, while stocks for Hasbro rose nearly 18 percent. A combined company would have more pricing power to negotiate with entertainment studios over TV and movie franchises.

The stance by Mattel toward Hasbro related to this approach is not known and it remains far from being certain a deal will eventually materialize, said the source, who asked to remain anonymous since the matter was confidential. Over two decades ago, Mattel tried to takeover Hasbro with Hasbro rejecting the offer.

The 2018 Met Gala Theme Has Been Revealed!
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As the Wall Street Journal reports, long-time rivals Hasbro, Inc. Mattel shares shot 24 per cent in after-hours trading, while shares of Hasbro shares rose 3.3 per cent.

Talks that the two may join forces has been long rumored, as Mattel's stock has fallen a significant 52 percent over the past year, leaving its market value at $5 billion.

Both toymakers have been struggling with waning demand and the recent bankruptcy of Toys'R'Us, a major outlet for toy sales.

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

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