Hasbro Has Made an Offer to Buy Mattel

Hasbro Has Made an Offer to Buy Mattel

Hasbro Has Made an Offer to Buy Mattel

Now, a year and a half later, the Wall Street Journal reports that sources familiar with the matter have told them that Hasbro has recently approached Mattel regarding a takeover offer.

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 Inc. (MAT) shares soared more than 20% in the extended session Friday following a report that Hasbro Inc.

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

Mattel's brands include the iconic Barbie doll, Hot Wheels and Matchbox cars, Fisher-Price toys and American Girl dolls. Mattel's stock has fallen 52 percent over the past year, and its market value is now about $5 billion.

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Shares of Mattel Inc. rose $3.38, or 23 percent, to $18 in extended trading.

The bankruptcy filing in September by Toy "R" Us, the largest toy retailer in the USA, highlighted struggles that the sector is facing including children's preferences shifting from traditional toys to electronics and online competition increasing. Mattel's stock has fallen 52 percent over the a year ago.

With a market cap around $11 billion, Hasbro is approximately twice the size of Mattel's $5 billion.

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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