Mattel Rejects Renewed Merger Bid From Rival MGA Entertainment

www.oann.com | 2/21/2017 | Staff
vpp1219 (Posted by) Level 3
(Reuters) – Toymaker Mattel Inc last week rejected another merger offer from Bratz doll maker MGA Entertainment Inc, MGA’s chief executive officer, Isaac Larian, said on Tuesday.

MGA Entertainment made the proposal in a letter to Mattel CEO Ynon Kreiz dated May 21, according to emails that Larian shared with Reuters.

Response - Bob - Normile - Mattel - Officer

In response, Bob Normile, Mattel’s chief legal officer, wrote to Larian on June 7 that the company’s board unanimously concluded that the proposal was “not in the best interests of Mattel and its shareholders.”

MGA’s renewed offer was on condition that Larian would become Mattel’s chairman and CEO and all of Mattel’s board members resign “without any further compensation”.

While Larian...
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