Hasbro makes takeover offer for Mattel

Mattel Barbie store

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.

El Segundo, California-based Mattel is the maker of iconic Barbie dolls, American Girl dolls, Fisher-Price and Hot Wheels toys.

A new combined entity would have pricing power that it could use to negotiate with entertainment studios and over movie and television franchises.

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Mattel's stance toward Hasbro at this time is not clear, and it remains far from certain that a deal will materialise, the source said, asking not to be identified because the matter is confidential.

Talks that the two may join forces has been long rumored, as Mattel's stock has fallen a significant 52 percent over the past year, leaving its market value at $5 billion.

The report comes close on the heels of the bankruptcy of Toys'R'Us - a major outlet for toy sales - that piled more pressure on an industry already struggling with online competition and lackluster demand for traditional toys. Shares of Hasbro rose 3.6% to $94.70 after hours.

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Both Mattel and Hasbro declined to make a comment.

Two weeks back, Mattel suspended its dividend and Chief Executive Margo Georgiadis, who took the job in January, warned the company would miss its full-year revenue forecast.

Hasbro has a total market value of $11.4 billion, and its stock is up almost 18% this year. Mattel's stock fell to its lowest since 2009 that day.

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