Companies and Brands

MEGA Brands Joins Mattel Toy Empire

186255808MEGA Brands formally will become a part of Mattel Inc. (NASDAQ: MAT). The Canadian toy company’s shareholders overwhelmingly approved the merger. This merger was to require approval of at least two-thirds of the votes cast by shareholders and a simple majority of the votes cast by shareholders other than Marc Bertrand and Vic Bertrand.

A press release showed that the majority was hit and then some, as it was approved by 99.96% of the votes cast by shareholders present in person or represented by proxy. This includes 99.96% of the votes cast by shareholders other than the named holders.

MEGA Brands makes construction toys, games and puzzles, as well as arts and crafts for children and families. MEGA Brands includes Mega Bloks, Rose Art, MEGA Puzzles, MEGA Games and Board Dudes.

ALSO READ: Ten Companies Betting on the Next Blockbuster Drugs

The most recent value of the stock was listed as 407 million Canadian dollars, but the total value of the merger was listed as 460 million in U.S. dollars. Mattel’s market cap is $12.77 billion.

Final approval in Canada is expected to come Friday, but all necessary approvals in the United States have already come and gone.

At $37.50, Mattel shares have traded in a range of $34.98 to $48.48 in the past 52-weeks.

The #1 Thing to Do Before You Claim Social Security (Sponsor)

Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.

A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.

Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.

 

Have questions about retirement or personal finance? Email us at [email protected]!

By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.

By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.