Hasbro Offers To Buy Mattel: Reports

(RTTNews) - Hasbro Inc. (HAS) has reportedly offered to acquire its key rival Mattel Inc. (MAT), a merger deal that could combine the two biggest toy makers in the U.S.

According to a report on the WSJ, Hasbro had recently approached Mattel with the deal. However, the terms of any possible deal were not revealed.

El Segundo, California-based Mattel is the maker of iconic Barbie dolls, American Girl dolls, Fisher-Price and Hot Wheels toys. However, the company has been struggling recently with losses and poor sales. The company has stopped its dividend program and has issued strategic initiatives to curb expenses. Mattel has also blamed the bankruptcy of toy retailer Toys "R" Us for its weak sales.

Mattel stock has taken a beating recently with market valuation at about $5 billion, compared with more than $11 billion for Hasbro.

Hasbro, which is based in Pawtucket, Rhode Island, manufactures toy brands including G.I. Joe, Nerf, Transformers and My Little Pony.