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Mattel, Inc. (MAT) Rejects Hasbro's Latest Takeover Proposal

MAT – Reuters reports that Mattel has snubbed Hasbro’s acquisition offer.

Mattel, Inc. (NASDAQ:MAT) wants a better deal from a chief rival in a takeover proposal that would combine to two largest U.S. toymaker.

Reuters has the exclusive details on the most recent rebuff by Mattel to Hasbro (HAS):

Mattel’s rebuttal indicates that Margaret Georgiadis, who took over as the company’s chief executive in February, is seeking to drive a hard bargain in negotiations with Hasbro, even though Mattel’s stock has significantly underperformed that of Hasbro in the last year.

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.

No one quite knows what Hasbro’s offer amounts to. It’s also unknown whether the deal is dead at this point, or whether discussions are still ongoing. The two companies have gone back and forth on a potential merger for the past twenty years or more, so investors shouldn’t be surprised if the deal stalls out once again.

Mattel, Inc. shares fell $0.66 (-3.60%) in premarket trading Thursday. Year-to-date, MAT has declined -30.74%, versus a 16.36% rise in the benchmark S&P 500 index during the same period.

MAT currently has a POWR Rating of D (Sell), and is ranked #8 of 10 stocks in the Entertainment – Toys & Video Games category.

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MAT Current POWR Rating™
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MAT Current Price $13.73 0.59%
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MAT Price Reaction

The day of this event (Nov. 16, 2017)
MAT Closing Price$18.22 0.55%
MAT Volume13,334,800
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Leading up to this event
MAT 1-mo return16.32%
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MAT 1-day return1.93%
MAT 3-day return1.13%
MAT 5-day return1.03%

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