Mattel, Inc. (NASDAQ:MAT), the world’s largest toy maker by sales, has announced today a definitive agreement to buy Canada’s Mega Brands Inc. (TSE:MB) for about $460 million.
The deal envisages Mega Brands Inc. (TSE:MB) shareholders receiving C$17.75 a share, a premium of 36% over where Mega shares closed Thursday.
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Mattel expands into fastest growing segments
Mattel, Inc. (NASDAQ:MAT)’s acquisition through a wholly-owned subsidiary of Mattel Inc. would advance Mattel’s global growth strategy of building upon its world-class portfolio of brands through expansion into two of the fastest-growing toy categories.
MEGA Brands, a family of leading global brands, is the No. 2 player in the $4-billion construction building sets category with its MEGA BLOKS brand as well as a competitor in the $2 billion arts