Time for a new edition of Monopoly!The Wall Street Journal reports that Hasbro Inc. (HAS), seller of Mr. Potato Head and Nerf footballs, recently made a takeover offer for Mattel Inc. (MAT), the company behind Barbie dolls and Hot Wheels toy cars. The newspaper, citing unnamed sources, said terms of the potential deal could not be learned.
Shares of Mattel soared nearly 25 percent in after-hours trading on news of Hasbro's reported offer.
Mattel is the smaller player in the U.S. toy business, with a market cap of $5 billion as of Friday's market close, compared with an $11 billion stock market valuation for Hasbro. El Segundo, California-based Mattel, whose world-famous products also include American Girl dolls and Fisher-Price, has suffered from weak sales in recent years, growing losses and a range of cost cuts, including a suspension of its dividend. Shares -- down nearly 50 percent so far this year -- ended Friday's trading session at $14.62, up 5 percent for the day.
Good posts, good friends. (General Offtopic)
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Hasbro makes buyout offer for toy rival Mattel: WSJ
You know, I'd forgotten how EqG came about because Hasbro wanted to get in on the Monster High tween market. I doubt Hasbro will kill EqG if this deal goes through, but I guess that depends on how much of the market EqG has captured and would thus now be cannibalizing from its competitor brands.