Hasbro Mattel Takeover Rumors Swirling - Optimus Prime, Barbie to Finally Wed?

Hasbro Mattel Takeover Rumors Swirling - Optimus Prime, Barbie to Finally Wed?

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.

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

If a deal is approved, however, it would unite better known Hasbro properties, such as My Little Pony, Monopoly, and Nerf with Mattel's Barbie and Hot Wheels toys and could potentially open the door for more partnership opportunities with the entertainment industry.

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Mattel's stance toward Hasbro at this time is not clear, and it remains far from certain that a deal will materialise, the source said, asking not to be identified because the matter is confidential. Mattel shares shot 24 per cent in after-hours trading, while shares of Hasbro shares rose 3.3 per cent. Shares of Mattel have dropped by 47% during the year, valuing the business at just over $4.8 billion and making it a target for a takeover.

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

Mattel has pointed to that bankruptcy as a reason for weak sales. Mattel in late October announced the suspension of its dividend. According to The Wall Street Journal, Hasbro is said to be on the prowl (pun) again, after substantiated news just a year ago, about the two companies being in talks. Mattel stock fell on that day to its lowest since 2009. The terms of a potential deal couldn't be learned, and as always, there may not be one. And it maintains a strong relationship with Hollywood - Hasbro also makes toys for successful Disney franchises.

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