Home » Money

United States toymaker Hasbro makes new approach to buy Mattel

12 November, 2017, 02:20 | Author: Melinda Barton
  • Hasbro makes takeover offer for Mattel: Report

Hasbro Inc has made an approach to acquire rival Mattel Inc, a source familiar with the matter said yesterday, making it the latest attempt to combine the two biggest USA toymakers in over two decades.

Hasbro has made a bid to acquire rival toymaker Mattel, according to a new report.

According to commentators, a deal would create a toy powerhouse, uniting Hasbro's My Little Pony, Monopoly and Nerf brands with Mattel's Barbie dolls and Hot Wheels toys with the combined company having more pricing power to negotiate with entertainment studios over TV and movie franchises. Mattel shares shot 24 per cent in after-hours trading, while shares of Hasbro shares rose 3.3 per cent.


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. The terms of a potential deal could not be learned, the newspaper said. Mattel's shares have slumped 47 percent this year, valuing the company at $4.8 billion and making it more vulnerable as a takeover target. 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 a year ago.

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

The other more ensuring detail is Mattel's stock price is way down nearly 50% compared to this time previous year. Conversely, Hasbro shares have increased 8 percent bringing its market value to an impressive $11.4 billion. The company reported a decline in sales after Toys R' Us filed for bankruptcy in September.

Recommended:



Popular

Week 11's best top-10 showdown?
Tuesday night's rankings were unusually static, even boring, with only one team (Michigan State) making a major move (12 spots). So how many teams are still alive for the College Football Playoff? Clemson, ranked No. 4, will take on unranked Florida State.

Self-driving bus crashes on its first day of work
The shuttle's sensors registered the truck and performed the correct actions, the rep said, by stopping to avoid the accident. A driverless shuttle bus was in a auto accident the first day the electric vehicle was being tested in Las Vegas .

Twitter Verification on Indefinite Hold After Criticism Over White Supremacist Verification
Unfortunately for those of you awaiting your verification, Twitter seems to have listened to user criticism, at least this time. Verifying white supremacists reinforces the increasing belief that your site is a platform for hate speech.

Donald Trump fires off first tweets under new 280 character limit
It has just recently doubled the amount of characters you can type into a tweet, which isn't exactly doing it any favors. At the same time, the 140-character limit did force you to be concise and witty, and there was a certain value to that.

Pennsylvania Governor Tom Wolf Creates Petition to Reevaluate Meek Mill's Sentence
Born and raised in Philly, Meek Mill grew a local following in the hip-hop scene before gaining national recognition. Since exploding onto the Hip-Hop scene back in 2011, Meek Mill has had a series of legal issues. "I'm human.

Conor McGregor confronts referee as celebrations turn sour at Bellator 187
McGregor then followed Goddard across the cage before giving him a slight shove him in the back, just before officials intervened. This is the second time in less than a month the two have been involved in a cageside kerfuffle.

Disney's New Streaming Service Will Cost "Substantially" Less Than Netflix
Iger also revealed that an ESPN digital offering scheduled for next year will debut in the spring and be called ESPN Plus . Disney doesn't plan on selling ads for the streaming service, but Iger commented he wouldn't rule out sponsorships.

Three students injured in France after man 'deliberately' rams group with auto
The suspect, a 28-year-old known to the police for minor offenses, was arrested at the scene and taken for questioning. Three people are injured after a vehicle plowed into a crowd of people near a school in southwestern France.

Fidget spinners sold at Target contain high lead levels, advocacy group says
The study was conducted on the Fidget Wild Premium Spinner Brass and Fidget Wild Premium Spinner Metal . PIRG Education Fund is calling for the toys to be pulled from shelves and wants a recall issued.

Uber Partners With NASA to Bring Flying Cars to LA by 2020
And Uber still needs to get approval from regulatory agencies, like the Federal Aviation Administration . Engadget reports that the new service could take an hour and a half LA drive down to under 30 minutes.