Mattel to buy Canadian toy maker Mega Brands in friendly US$460-million deal
MONTREAL – Mattel, Inc. (NASDAQ:MAT) has made a friendly takeover offer for Canadian toy maker Mega Brands Inc. (TSX:MB).
The deal is valued at US$460 million, including debt that the American industry giant will assume or repay.
The Montreal-based company makes the Mega Bloks line of construction sets, which compete with Lego.
Mega Brands also makes arts and crafts products under the Rose Arts and other brands.
Mattel says the acquisition of Mega Brands will help it expand in two of the fastest-growing toy categories.
Mattel is offering C$17.75 cash per share of Mega Brands and has the support of shareholders with 39 per cent of Mega Brands stock.
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