Last week, we shared word that Hasbro was looking to potentially take over Mattel. It seems that Mattel has declined Hasbro‘s offer, and is apparently looking to drive a hard bargain if the two toy giants are to come together. Reuters, citing sources close to the situation, states that Hasbro’s proposal was significantly lower than Mattel values its business. Here’s a snippet:
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.
The terms Hasbro has proposed could not be learned, and it is not clear whether negotiations between the two companies will continue. The companies have engaged in multiple rounds of deal talks over the last two decades.
So, don’t expect major movement any time soon.