Toy company Mattel Inc said it offered to purchase Canada's Mega Brands Inc for about $460 million, including debt. Mattel will pay C$17.75 per Mega Brands share, representing a premium of 36 percent to the stock's close on Thursday.
Mattel, Inc. (Mattel) designs, manufactures and markets a variety of toy products worldwide which are sold to its customers and directly to consumers. Shares of MAT traded higher by 0.6% or $0.22/share to $37.15. In the past year, the shares have traded as low as $34.98 and as high as $48.48. On average, 3745410 shares of MAT exchange hands on a given day and today's volume is recorded at 5002760.
MEGA Brands Inc. (MEGA Brands) designs, manufactures and markets toys and stationery products. Shares of MB traded higher by 0.62% or $0.08/share to $13.07. In the past year, the shares have traded as low as $11.89 and as high as $18.00. On average, 46931 shares of MB.TO exchange hands on a given day and today's volume is recorded at 21655.
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