eastunder
4月前
Mattel is confident as 'standalone company' after report of acquisition offer
Caroline Petrow-Cohen
Mon, Jul 22, 2024, 5:59 PM MDT2 min read
https://finance.yahoo.com/news/mattel-confident-standalone-company-report-235931227.html
After it was reported that a private equity firm had approached it with a buyout offer, toy company Mattel said it is confident in its ability to deliver profits as an independent company. (Associated Press)
Following a news report that a private equity firm had approached Mattel with a buyout offer, the El Segundo-based toy company said it is "confident" in its ability to deliver profits as an independent, publicly traded company.
Reuters reported Monday that L Catterton, a firm backed by luxury goods giant LVMH, had made Mattel an acquisition offer. Catterton has $34 billion in assets under management and has made more than 250 investments in consumer brands.
A spokesperson for Mattel said the company would "not comment on speculation." Reuters attributed the news of the offer to unnamed sources.
“We are very confident in Mattel’s strategy and our ability to create long-term shareholder value as a standalone company,” the spokesperson said.
A source familiar with the company’s operations, who requested anonymity to discuss the internal corporate matter, said there was no merit to the report of an acquisition offer.
Mattel’s shares were up 15% to $18.68 on Monday. In the first quarter of 2024, Bloomberg reported, Mattel posted a smaller-than-expected loss, in part thanks to sales of its Hot Wheels toy cars. For the second quarter, analysts predict sales will rise about 1%, according to Bloomberg.
Mattel got a popularity boost last year when a live-action film about the company's iconic Barbie character set box-office records as it grossed more than $1.4 billion and became a cultural phenomenon. Chief Executive Ynon Kreiz has led the push into Hollywood, turning the company’s intellectual property into mainstream films.
Mattel Films, the company's production arm, currently has 16 projects in development: J.J. Abrams is producing a Hot Wheels movie, Lily Collins and Lena Dunham signed on for Polly Pocket, and Vin Diesel lined up as a partner for Rock ’Em Sock ’Em Robots, among others.
Despite the Barbie boost and a successful push by Kreiz to bolster the company's bottom line by reducing its workforce and the number of products it makes, Mattel's stock has languished over the past year.
Its middling performance drew the ire of an activist investor, New York hedge fund Barington Capital Group, which in February called on the company to, among other things, sell two of its brands — the premium-priced American Girl dolls and its Fisher-Price line of young children's toys.
Reuters reported that L Catterton’s approach could prompt other companies like rival Hasbro to make offers for the company. Hasbro and Mattel have had unsuccessful merger talks in the past.
eastunder
4月前
EXCLUSIVE-Buyout firm L Catterton approaches Mattel with acquisition offer, sources say
11:27:31 AM ET, 07/22/2024 - Reuters
By Anirban Sen
https://finance.yahoo.com/news/exclusive-buyout-firm-l-catterton-152929835.html
July 22 (Reuters) - L Catterton, the private equity firm backed by luxury goods giant LVMH, has approached U.S. toy maker Mattel with an acquisition offer, people familiar with the matter said on Monday.
The move could prompt other potential suitors to consider bids for Mattel, including rival Hasbro, which has become aware of L Catterton's approach and is discussing whether it should also submit an offer, one of the sources said. Hasbro and Mattel have held unsuccessful merger talks over the years.
The sources cautioned that there is no certainty L Catterton's approach will push Mattel into exploring a sale and asked not to be identified because the matter is confidential.
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And that rumor caused this Move:
eastunder
4月前
-Mattel, Inc. ( MAT) reports 2Q 7/23/24 at apx. 4:05 p.m. ET
https://www.businesswire.com/news/home/20240702019816/en/
Following this, Mattel will host a webcast conference call at 5:00 p.m. Eastern Time.
The webcast and accompanying slides will be available under the Events and Presentations section of Mattel's Investor Relations website, https://investors.mattel.com. To listen to the webcast, log on to the website at least 10 minutes early to register, download and install any necessary audio software. An archive of the webcast will be available on the Company's website for 12 months following the event.
Certain financial and statistical information included in the webcast, such as information required by Regulation G, will be available at the time of the webcast on the "Investors" section of Mattel’s corporate website, https://investors.mattel.com.
About Mattel
Mattel is a leading global toy and family entertainment company and owner of one of the most iconic brand portfolios in the world. We engage consumers and fans through our franchise brands, including Barbie®, Hot Wheels®, Fisher-Price®, American Girl®, Thomas & Friends™, UNO®, Masters of the Universe®, Matchbox®, Monster High®, MEGA® and Polly Pocket®, as well as other popular properties that we own or license in partnership with global entertainment companies. Our offerings include toys, content, consumer products, digital and live experiences. Our products are sold in collaboration with the world’s leading retail and ecommerce companies. Since its founding in 1945, Mattel is proud to be a trusted partner in empowering generations to explore the wonder of childhood and reach their full potential. Visit us at mattel.com.
whytestocks
5年前
News: $MAT HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Mattel (MAT) Investors with $100K+ Losses to Contact Its Attorneys: Securities Fraud Case Filed
SAN FRANCISCO , Dec. 24, 2019 /PRNewswire/ -- Hagens Berman urges Mattel, Inc. (NASDAQ: MAT) investors who have suffered losses in excess of $100,000 to submit their losses now to learn if they qualify to recover their investment losses. A securities fraud class action has recent...
In case you are interested MAT - HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Mattel (MAT) Investors with $100K+ Losses to Contact Its Attorneys: Securities Fraud Case Filed
x1power
5年前
Apparently, MAT is in a drift stage before July 25 earnings call.
Seems everyone is waiting to see how much earnings positive surprise MAT comes in with.
Some factors that might develop on the legal scene as to what transpires in court legal actions over Fisher Price Crib Deaths . . . you can be sure MAT legal team has its eyes set on out-of-court settlement . . . it would be very illogical to endure further bad trial media news on this subject.
For instance, entering into a trial court case might cause Presidential or minority congressional comments on what they think on this debacle. The rationale herein is based on investigative analysis of race and age of mother/parents and to what extent that data might enter into the in-court witnesses called?
Also, MAT might be then placed in a drawn-out court case with increasingly bad PR effect.
With the profits earned from Toy Story 4 movie sales (including toys), I might propose MAT consider paying down some of its debt, buy back some shares to boost its stock price and make itself more attractive to
potential new partners, etc.
I cannot help but hope MAT has sense to reach out to women's organization and say teachers and parent organizations and nurses and
competent Medical Product Review Teams, in an effort to provide future
and present toy review processes.
Watch the daily volume combined with price movement, for indicator of
is present area range of stock price in a support pattern.
It will be instructive to observe how the company and BOD and floor
questions come off on earnings day . . . best hope these folks have been smart enough to settle OOC and present positive moves going forward.
This company has not been able to fathom out where the future of Toy
Entertainment is going electronic and maybe need more outside futurist
input to their product and service and design efforts review?
whytestocks
6年前
News: $MAT Mattel Announces International Licensing Agreement with Sanrio Featuring Hello Kitty and Friends
Rights include famed Hello Kitty & Friends™ and Hello Kitty Cafe™, as well as Sanrio characters including Hello Kitty®, Keroppi™, Chococat™, Badtz-Maru™, Little Twin Stars™, Tuxedosam™, Pompompurin™, My Melody™, Hangyo...
In case you are interested https://marketwirenews.com/news-releases/mattel-announces-international-licensing-agreement-with-sanrio-featuring-hello-kitty-and-friends-8296626.html