In what would be a game-changing move for the toy industry, Hasbro are apparently in talks to take over fellow toy giant Mattel.
According to the New York Times, Hasbro – worth $11bn – approached Mattel – worth $5bn – 21 years after Mattel made overtures to Hasbro about a takeover.
Hasbro has approached Mattel about a potential takeover offer, The Wall Street Journal reported on Friday, a deal that could put iconic brands such as Barbie and Transformers under the same roof.
The Wall Street Journal, citing unnamed sources, reported that the approach had been made recently, though the terms were unclear and a deal still may not materialise. If a deal was consummated, it would bring together the two largest toymakers in the United States.
Mattel shares skyrocketed by more than 20% in after-hours trading on the Hasbro news, while Hasbro shares jumped more than 2% on the report. Mattel has a market value of $5b, while Hasbro is worth about $11b.
