Finance

Hasbro Reportedly Offers to Buy Mattel

Hasbro Reportedly Offers to Buy Mattel

Hasbro has made a bid to take over toy aisle rival Mattel in a deal that would bring together the leading makers of entertainment-themed consumer products, from Disney princesses to DC superheroes.

If a deal were reached, it would create a huge powerhouse in the toy industry, uniting Monopoly, Nerf and My Little Pony brands from Hasbro with Mattel's Hot Wheels and iconic Barbie.

Now, a year and a half later, the Wall Street Journal reports that sources familiar with the matter have told them that Hasbro has recently approached Mattel regarding a takeover offer. For those curious, Mattel has a market value of about $5 billion, while Hasbro is worth about $11 billion, so more than double.

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. It blamed some of the decline on the recent bankruptcy filing of retailer Toys R Us Inc. Hasbro Inc. shares rose $2.55, or 2.8 percent, to $94. Mattel's stock has fallen 52 percent over the past year.

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Hasbro, Inc. shares closed at $91.45 on Friday, up $2.76 (+3.11%). Mattel's stock fell to its lowest since 2009 that day.

Mattel has struggled with slumping sales despite hiring a new chief executive this year, Margo Georgiadis, a former Google executive.

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.

If completed that deal would have given Hasbro a much needed direct line to Hollywood with more television shows and movies tied to toy brands.

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