Recent news that Hasbro has tried to acquire it’s biggest competitor Mattel have some new developments. Mattel has managed to dodge the offer for now.
Reuters reports that Mattel has issued a rebuttal from Margaret Georgiadis who is the CEO of the company. Mattel has informed Hasbro its proposal undervalues the company and does not take sufficiently into account the potential for regulators to reject the deal based on antitrust concerns, the sources said.
Reuters cites three sources familiar to the matter. Meanwhile, both companies have not commented on the topic yet and they probably won’t at all at least in the near future.
According to the sources, Mattel has said the takeover approach isn’t viable. The company also feels a merger of two behemoths won’t go down well with regulators.
If Mattel and Hasbro merge, they will become by far the biggest toy company in the world ever. This will mean that one company will hold several of the world’s most popular toy lines. Among them are Hasbro’s My Little Pony, Monopoly and Nerf brands with Mattel’s Barbie dolls and Hot Wheels toys.
Hasbro and Mattel have had talks several times over the years, including in 1996 and again sometime in late 2015. So far, neither company is willing to be the one that has been acquired by the other.
