- Hasbro Inc (HAS.O) has made an approach to acquire rival Mattel Inc (MAT.O), a source familiar with the matter said on Friday, the latest attempt to combine the two biggest US toymakers in more than two decades.
Hasbro Inc has made an approach to acquire rival Mattel Inc, a source familiar with the matter said yesterday, making it the latest attempt to combine the two biggest USA toymakers in over two decades.
Most kids don't care about the difference between Hasbro and Mattel - and according to new reports, the two companies might soon become one.
Mattel's stance toward Hasbro in this overture is not clear, and it remains far from certain that a deal will materialize, the source said, asking not to be identified because the matter is confidential.
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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. Hasbro shares were up 3.3%. Last month the company suspended its dividend and warned it would miss forecasts for revenue this year.
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 stock fell on that day to its lowest since 2009.
Mattel and Hasbro have held talks a number of times in the past, including as long ago as 1996 and as recently as late in 2015. And it maintains a strong relationship with Hollywood - Hasbro also makes toys for successful Disney franchises.