Hasbro Reportedly Bid to Buy Mattel
Hasbro Inc., an American multinational toy and board game company, has made a move to takeover its rival Mattel Inc.
Reports indicate that Hasbro has taken the takeover approach in recent months, especially as Mattel has struggled to revive some of its faded brands. In fact, Mattel’s stock this year have plummeted 52 percent in the past year, leaving its market value at $5 billion. On the other hand, Hasbro’s shares have increased 8 percent, bringing its market value to $11.4 billion. General details are unknown regarding Hasbro’s bid, and it’s currently unclear if the two companies have had any further discussions since Hasbro’s initial pitch.
Photo via New York Times
It is also not the first time these two toy giants have been involved in a potential takeover. Over twenty years ago, Mattel sought to take over Hasbro, but the latter rejected the hostile offer, claiming such a deal would never pass the antitrust hurdles.
Despite the recent financial pressure the company is in, Mattel still maintains popular and valuable brands like Hot Wheels and Fisher-Price, saying these are what make Mattel “ripe for a takeover” by Hasbro.
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Source: New York Times