TORONTO (AP) — Toy-maker Mattel Inc. on Friday made a friendly takeover attempt for Canadian toy maker Mega Brands, which has the world's second-largest line of construction sets after Lego.
The deal values the Montreal-based company at $460 million, including debt that the American industry giant will assume or repay.
Mattel manufactures Barbie dolls and Hot Wheels cars among numerous other toys. The company said Mega Brands will help it expand in two of the fastest-growing product segments: construction sets and arts and crafts.
Bryan Stockton, Mattel's chairman and CEO, told analysts Friday that Mattel plans to keep the Mega Brands head office in Montreal and to invest in its manufacturing operations, which he said are integral to the business.
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