Mattel expands its playing field with acquisition of MEGA Brands
On April 30, 2014, Mattel, Inc. (Mattel) announced that it completed the acquisition of MEGA Brands Inc. (Mega Brands), through a wholly-owned subsidiary of Mattel, Inc., for approximately US$460 million.
Under the terms of the agreement, signed February 27, 2014, Mattel, Inc. paid C$17.75 per common share, including all outstanding shares and warrants of MEGA Brands Inc. The Board of Directors of MEGA Brands, who unanimously approved the transaction, and Fairfax, Victor Joseph Bertrand, Marc Bertrand and Vic Bertrand, who together held approximately 39% of the outstanding common shares of MEGA Brands, entered into voting support agreements and voted their common shares in favor of the arrangement.
MEGA Brands is a trusted family of leading global brands in construction toys, games & puzzles and arts & crafts, including MEGA Bloks, Rose Art, MEGA Puzzles, MEGA Games and Board Dudes.
The Mattel family of companies is the worldwide leader in the design, manufacture and marketing of toys and family products, with a portfolio of best-selling brands including Barbie®, Hot Wheels®, Monster High®, American Girl®, Thomas & Friends® and Fisher-Price® brands, including Little People® and Power Wheels®, as well as a wide array of entertainment-inspired toy lines.
Fairfax Financial Holdings is a financial services holding company that is primarily engaged in property and casualty insurance and reinsurance and the associated investment management.
Further information can be found on MEGA Brands' website.