Merger talks between Hasbro Inc and DreamWorks Animation SKG Inc formally ended on Monday morning, when the toy company's board voted to walk away, according to a person with knowledge of the board's actions. Discussions had cooled after members of the board visited DreamWorks' Glendale, California studio complex, and press reports surfaced about the talks last Wednesday.Hasbro's enthusiasm for the deal also waned after executives at Walt Disney Co's consumer product unit voiced concern about the possible arrangement, said another person familiar with knowledge of the situation. Disney and Hasbro had agreed on Sept. 24 for Hasbro to make dolls based on Disney's Princess and "Frozen" properties.Both sources could not be identified because neither is authorized to speak publicly.The maker of the "Shrek" and "Madagascar" film series was seeking $3 billion, or $38 a share, although Hasbro never made a bid, the person with knowledge of the Hasbro board said.
DreamWorks Animation SKG, Inc. (DreamWorks Animation) is engaged in the development, production and exploitation of animated films and their associated characters in the worldwide theatrical, home entertainment, television, merchandising and licensing and other markets. Shares of DWA fell by 14.26% or $-3.71/share to $22.31. In the past year, the shares have traded as low as $19.20 and as high as $36.01. On average, 1770100 shares of DWA exchange hands on a given day and today's volume is recorded at 5778198.
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 traded higher by 4.35% or $2.35/share to $56.37. In the past year, the shares have traded as low as $47.48 and as high as $58.41. On average, 1113000 shares of HAS exchange hands on a given day and today's volume is recorded at 2112173.
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