Mattel stock soars on report of Hasbro takeover offer

Published: Friday, November 10, 2017 @ 5:46 PM
Updated: Friday, November 10, 2017 @ 5:46 PM


            FILE - This Wednesday, Feb. 24, 2016, file photo, shows a building on the campus of toymaker Mattel, Inc., in El Segundo, Calif. Shares of Mattel soared in after-hours trading Friday, Nov. 10, 2017, after a report that rival Hasbro has made a takeover offer for Mattel. Such a deal could bring together well-known brands like Monopoly, Nerf, Barbie and Hot Wheels. (AP Photo/Damian Dovarganes, File)
FILE - This Wednesday, Feb. 24, 2016, file photo, shows a building on the campus of toymaker Mattel, Inc., in El Segundo, Calif. Shares of Mattel soared in after-hours trading Friday, Nov. 10, 2017, after a report that rival Hasbro has made a takeover offer for Mattel. Such a deal could bring together well-known brands like Monopoly, Nerf, Barbie and Hot Wheels. (AP Photo/Damian Dovarganes, File)

Shares of Mattel soared in after-hours trading Friday after a report that rival Hasbro has made a takeover offer for Mattel. Such a deal could bring together well-known brands like Monopoly, Nerf, Barbie and Hot Wheels.

The Wall Street Journal, citing people familiar with the matter that it did not identify, said Hasbro approached Mattel recently about a deal. Hasbro said it does not comment on "rumors or speculation." Mattel did not immediately respond to a request for comment.

Toy companies, including Hasbro and Mattel, have had trouble selling their toys to today's kids, many of whom would rather play with a tablet.

Revenue at El Segundo, California-based Mattel has fallen every year since 2013, and its stock has lost nearly half its value since the beginning of the year.

Hasbro, based in Pawtucket, Rhode Island, has fared better after it took over the rights from Mattel for Disney's "Princess" and "Frozen" dolls in late 2014. Hasbro's stock is up 18 percent this year, and the company has a market value of $11 billion — more than twice as much as Mattel.

Both companies took a hit when Toys R Us filed for bankruptcy protection in September. Hasbro and Mattel said that they temporarily reduced shipments to the toy store operator ahead of the bankruptcy filing, but said they were working with the retailer to get their toys on its shelves during the holiday season.

Shares of Mattel Inc. rose $3.38, or 23 percent, to $18 in extended trading. Hasbro Inc. shares rose $2.55, or 2.8 percent, to $94.

Glassdoor names 50 most beloved CEOs in America

Published: Wednesday, June 08, 2016 @ 5:41 PM
Updated: Wednesday, June 08, 2016 @ 5:01 PM

H-E-B's Charles C. Butt made the list of America's 50 most beloved CEOs.
H-E-B's Charles C. Butt made the list of America's 50 most beloved CEOs.

The chiefs of Facebook, Google, Apple and Texas' beloved H-E-B all made the ranks on job site Glassdoor's list of top-rated CEOs of a large company in the U.S.

Glassdoor determined the 50 rankings by collecting anonymous employee reviews. Beating out well-known names like Facebook's Mark Zuckerberg, is Bob Bechek at No. 1. Bechek is the worldwide managing director of Bain & Company, a management consultant firm, and received a 99 percent approval rating from employees surveyed. 

Zuckerberg did make top 10 though, along with LinkedIn's Jeff Weiner, Apple's Tim Cook and Google's Sundar Pichai. A bit further down the list at No. 19 is H-E-B's CEO Charles C. Butt, who received a 95 percent approval rating. 

Satisfied employees gave reviews like "H-E-B has always been hreat with allowing Partners to have a flexible schedule" while negative reviews said the company is "very demanding" and "has you work full-time hours while keeping you on part-time status."

To see who else made the list and what employees had to say about each company, you can go here.