Mattel to buy Canadian toy manufacturer Mega Brands in US$460 mln deal
Mega Brands Inc (TSX: MB, MB.WT, MB.NT), a Canadian manufacturer of construction toys, games, puzzles, and arts & crafts, has agreed to be bought by U.S.-based Mattel Inc (NASDAQ: MAT). The deal values Mega Brands at US$460 million, including debt. The agreement provides for the acquisition of the company for $17.75 per share and includes the purchase of all outstanding common shares and warrants. Mattel said it plans to keep Mega Brands' headquarters in Montréal and will maintain its capacity for product design, development and manufacturing. Mega Brands is currently a portfolio company of Fairfax Financial Holdings Ltd, and has in past been backed by U.S. private equity firm The Blackstone Group.
28 February 2014•9 mins read
