If reports are true, Hasbro has made a bid to take over its main rival Mattel in a deal that would bring together two of the world’s biggest toy manufacturers.
The news comes on the heels of the bankruptcy of Toys ‘R’ Us as the industry struggles with both online competition and dwindling demand for traditional toys.
Thanks to licensing deals with Disney along with their film franchises at Paramount Pictures like Transformers and G.I. Joe, Hasbro has leveraged a Hollywood presence and turned it into fuel for toy sales which has succeeded.Their total value stands at $11.4 billion which is more than twice that of Mattel at $4.8 billion.
The Wall Street Journal broke the news about the talks and the two companies have issued responses saying they do not comment on rumors or speculation.
Hasbro has previously approached Mattel at least twice before – in 1996 and late 2015 – but deals didn’t materialise.