Hasbro has made a bid to take over toy aisle rival Mattel in a deal that would bring together the leading makers of entertainment-themed consumer products, from Disney princesses to DC superheroes.
Over two decades ago, Mattel tried to takeover Hasbro with Hasbro rejecting the offer.
The stance by Mattel toward Hasbro related to this approach is not known and it remains far from being certain a deal will eventually materialize, said the source, who asked to remain anonymous since the matter was confidential.
Mattel's shares jumped 20 percent in after hours trading.
Merger talks between Hasbro and Mattel are back on again, according to a new report from The Wall Street Journal.
One analyst in the toy industry said that both companies would enjoy benefits from merging, but stockholders at Mattel may oppose such a deal that valued their company on a recently depressed share price.
Hasbro, based in Pawtucket, R.I., makes toys such as Transformers, G.I. Joe figures, My Little Pony, Nerf and Play-Doh, and games including Monopoly, Scrabble and Twister. Mattel was not immediately available for comment. It blamed some of the decline on the recent bankruptcy filing of retailer Toys R Us Inc. Last month the company suspended its dividend and warned it would miss forecasts for revenue this year.
Mattel market value stands at about $5 billion this year, while Hasbro claims more than double that at $11 billion.
Hasbro has a total market value of $11.4 billion, and its stock is up almost 18% this year.
Both will also offer deals and perks to all shoppers, including free in-store pickup and free shipping on orders of $49 or more . Walmart's Black Friday sales begin today, and the best part is you don't have to leave your home to take advantage of them.
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