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Mattel stock soars on report of Hasbro takeover offer

SeattlePI.com Friday, 10 November 2017 ()
NEW YORK (AP) — Shares of Mattel soared in after-hours trading Friday after a report that rival Hasbro made a takeover offer for Mattel. The Wall Street Journal, citing people familiar with the matter that it did not identify, said Hasbro approached Mattel recently about a deal. Both companies have had trouble selling their toys to today's kids, many of whom would rather play with a tablet. Mattel's toys include Barbie and Hot Wheels. Hasbro has My Little Pony and Monopoly. A spokeswoman for Pawtucket, Rhode Island-based Hasbro said it does not comment on "rumors." Mattel, based in El Segundo, California, did not immediately respond to a request for comment. Shares of Mattel Inc. rose $3.09, or 21 percent, to $17.71 in extended trading.
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News video: Report: Hasbro Makes Takeover Offer for Toy Rival Mattel

Report: Hasbro Makes Takeover Offer for Toy Rival Mattel 00:55

The biggest toy brands in the U.S. might soon unite.

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