Tuesday, 21 November, 2017

Mattel shares skyrocket more than 20% on report of Hasbro takeover interest

Hasbro Mattel Takeover Rumors Swirling - Optimus Prime, Barbie to Finally Wed? Hasbro reportedly makes a takeover bid for struggling rival Mattel
Heather Davidson | 13 November, 2017, 02:06

"ORCRP009532-topic.html" class="local_link" >Mattel Inc.

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 USA toy makers and put Barbie and G.I. Joe under the same roof. But Mattel's shares are down by almost half this year alone - an appealing discount for Hasbro.

Hasbro, based in Pawtucket, R.I., makes toys such as Transformers, G.I. Joe figures, My Little Pony, Nerf and Play-Doh, and games including Monopoly, Scrabble and Twister. It also has rights to valuable entertainment franchises such as "Star Wars".

One analyst in the toy industry said that both companies would enjoy benefits from merging, but stockholders at Mattel may oppose such a deal that valued their company on a recently depressed share price. The company reported a decline in sales after Toys R' Us filed for bankruptcy in September.

That prompted S&P Global Ratings to lower its ratings on Mattel's corporate debt.

Mattel stock has taken a beating recently with market valuation at about $5 billion, compared with more than $11 billion for Hasbro.

The news comes a week after it was announced Hasbro has teamed with Paramount Pictures to produce and distribute content based on Hasbro brands, as well as original stories. Shares of Hasbro rose 3.6% to $94.70 after hours.

Hasbro has a market value of $11.4 billion, and its stock is up almost 18 percent this year.

Hasbro contended at the time that a deal might be blocked by federal regulators on antitrust grounds, and Mattel abandoned its offer in early 1996.

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