MEGA Brands Joins Mattel Toy Empire
MEGA Brands formally will become a part of Mattel. The Canadian toy company's shareholders overwhelmingly approved the merger.
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A press release showed that the majority was hit and then some, as it was approved by 99.96% of the votes cast by shareholders present in person or represented by proxy. This includes 99.96% of the votes cast by shareholders other than the named holders.
MEGA Brands makes construction toys, games and puzzles, as well as arts and crafts for children and families. MEGA Brands includes Mega Bloks, Rose Art, MEGA Puzzles, MEGA Games and Board Dudes.
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The most recent value of the stock was listed as 407 million Canadian dollars, but the total value of the merger was listed as 460 million in U.S. dollars. Mattel’s market cap is $12.77 billion.
Final approval in Canada is expected to come Friday, but all necessary approvals in the United States have already come and gone.
At $37.50, Mattel shares have traded in a range of $34.98 to $48.48 in the past 52-weeks.
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Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
