Hasbro Offers To Buy Mattel

Mattel Barbie store

Hasbro approached El Segundo, Calif. -based Mattel recently with a takeover offer but terms of the proposal were not available, The Wall Street Journal reported Friday, citing unidentified sources.

GI Joe and Barbie could be set to shack up within the same company after toy making giant Hasbro made an offer to buy rival Mattel, according to reports.

Toy companies, including Hasbro and Mattel, are finding it hard to sell toys to today's kids, many of whom would rather play with a tablet, according to commentators. For those curious, Mattel has a market value of about $5 billion, while Hasbro is worth about $11 billion, so more than double.

Mattel has struggled with slumping sales despite hiring a new chief executive this year, Margo Georgiadis, a former Google executive. Hasbro, which makes Disney Princess Dolls and Nerf guns, rose about 3.3 per cent. Shares have fallen almost 50% over the year after the company suspended its shareholder dividend and outlined cost-saving measures. Mattel stock fell on that day to its lowest since 2009.

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If the deal were to go through, it would bring the two largest toy companies in the USA and their vast catalog of brands together. But a deal did not materialize on either occasion.

Hasbro is attempting to diversify revenue streams, and has sought to acquire movie studio and entertainment business Lions Gate Entertainment, but the talks were ended without any deal coming to fruition.

A similar rumor that Hasbro and Mattel were holding merger talks appeared in media reports in early 2016, and such speculation repeatedly has surfaced and then faded in the two decades since Hasbro resisted a formal $5.2-billion purchase bid from Mattel.

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