Hasbro Makes Bid To Buy Mattel

Representatives of Hasbro and Mattel declined comment on the report. Despite its financial woes, brands like Fisher Price and Hot Wheels, which are still seen as valuable, are said to make Mattel "ripe for a takeover" by Hasbro.

The Wall Street Journal, citing people familiar with the matter that it did not identify, said Hasbro approached Mattel recently about a deal.

A new report claims that Hasbro Inc. has made a takeover offer for its rival, Mattel Inc., although details surrounding the offer are now unknown.

Mattel's shares have slumped 47 per cent this year, valuing the company at about $4.8-billion. Hasbro has My Little Pony and Monopoly.

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Mattel in late October reported a 14 percent drop in its third-quarter sales, excluding the effect of currency fluctuations, and suspended its quarterly dividend.

Hasbro, Inc. shares closed at $91.45 on Friday, up $2.76 (+3.11%).

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.

Hasbro's strategy of using entertainment assets to fuel toy sales has paid off richly - the company's market cap is $11.4 billion, more than twice that of El Segundo, CA-based Mattel. Mattel's stock has fallen 52 percent over the past year, and its market value is now about $5 billion.

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