That sounds like a classic Mattel move.
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The deal is still real, today was just them trying to save face. Should be moving forward next day or so.
The threat of a takeover is the only trick in the Mattel playbook that has gotten any semblance of positive movement going for the stock all year. Not exactly a strong position from which to negotiate.
Mattel’s rebuttal indicates that Margaret Georgiadis, who took over as the company’s chief executive in February, is seeking to drive a hard bargain in negotiations with Hasbro, even though Mattel’s stock has significantly underperformed that of Hasbro in the last year.
Does this not imply that negotiations are ongoing, or onword if you will?
is this good (because the business is undervalued) or is this bad (because the board is too stubborn to accept reality)