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Another Mattel Investor Pushes for Potential Sale
Ariel Investments said a strategic buyer could pay a premium as Mattel weighs divestitures, a merger or a sale after shares fell 19% this year.
- On Monday, Ariel Investments, which holds a 5.4% stake in Mattel, urged the toy company to explore strategic alternatives including a potential sale, with Co-CEO John Rogers emphasizing "maximizing shareholder value."
- Authentic Brands recently expressed interest in acquiring Mattel with a reported $6 billion offer, following a similar push from Southeastern Asset Management earlier this year.
- Despite net sales increasing 10% to $1.1 billion in the latest quarter, Mattel's shares are down 19% since the beginning of the year and the company reported an $18 million net loss in the second quarter.
- A Mattel spokesperson said the company "will consider the views expressed in Ariel Investments' letter, as well as the views of Mattel's other shareholders" while remaining committed to all shareholders' best interests.
- Recently appointed CEO Roger Lynch now leads Mattel following Ynon Kreiz's departure, while the company launched Mattel Game Studios to develop interactive games inspired by its portfolio.
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13 Articles
13 Articles
A sale of toy giant Mattel could be on the agenda after one of its largest investors, Ariel Investments, wrote an open letter urging the company's board to explore acquisition options, citing the company's deteriorating business performance and growing interest from potential buyers, CNBC reported.
·Budapest, Hungary
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The Authentic Brands group, which owns brands such as Reebok and Sports Illustrated, will be in discussions to present an offer to purchase Mattel, which manufactures Barbie, above 20 dollars (17.8 euros) per share.
·Lisboa, Portugal
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Coverage Details
Total News Sources13
Leaning Left1Leaning Right1Center4Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 17%
C 67%
R 16%
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