© Reuters. MATTEL OPPOSED AN END TO NOT RECEIVE TO HASBRO
(Reuters) – The manufacturer of toys Mattel has rejected the latest proposal of purchase of its competitor, Hasbro, said Wednesday sources close to the matter.
This seems to indicate that Margaret Georgiadis, to become director general of Mattel in February, intends to negotiate, walk è walking with Hasbro even if the action of the Mattel has significantly under-performed that of Hasbro in the last 12 months.
Action Mattel has lost 1.8% in after-Grant in response to this information, while Hasbro fell 1.2%.
Mattel explained to Hasbro that its offer under-assessed and under-assessed the risk of a rejection for reasons of competition, said the sources.
We don’t know the conditions of the offer to Hasbro and we do not know whether the negotiations between the two leading global manufacturer of toys – which are far from being the first – will continue.
Mattel declined to comment. Hasbro has not responded to requests for comment in the immediate future.
The two groups are confronted with a decreasing demand, and are affected by the bankruptcy of the distributor toys’r’us, as a result of the offensive of Amazon (NASDAQ:AMZN).com in the online sale of toys.
(Greg Roumeliotis, Wilfrid Exbrayat for the French service)