Mattel Inc, the world's No. 1 toymaker, offered to purchase Canada's Mega Brands Inc for about $460 million to better compete with Denmark's Lego, the leader in the fast-growing market for building blocks.For the past three years, the demand for construction toys, especially Lego's colorful building blocks, has been growing at the expense of action figures and preschool toys - the forte of Mattel and its main rival Hasbro Inc.That pushed Lego's sales up 10 percent in a sluggish global toy market in 2013, helping it overtake Hasbro to become the No. 2 toy company by sales globally. Mattel's sales rose 1 percent and Hasbro's were flat in 2013.Mega Brands, founded in 1967, sells building blocks that directly compete with Lego, and will help Mattel garner a larger share of a market that Chief Executive Bryan Stockton said had some of the highest margins in the toy industry.
Hasbro, Inc., engaged in providing children?s and family leisure time products with a range of portfolio of brands and entertainment properties. Shares of HAS fell by 0.69% or $-0.38/share to $54.65. In the past year, the shares have traded as low as $39.88 and as high as $55.25. On average, 1517550 shares of HAS exchange hands on a given day and today's volume is recorded at 461880.
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 0.35% or $0.13/share to $37.28. 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 1320770.
MEGA Brands Inc. (MEGA Brands) designs, manufactures and markets toys and stationery products. Shares of MB traded higher by 35.58% or $4.65/share to $17.72. 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 1070837.
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