Re: Disney Looking to Acquire Hasbro?
Posted: Wed Nov 07, 2012 8:49 am
The rumor mill was sent into overdrive earlier this week when MTV Geek reported a rumor that Disney was looking into purchasing Hasbro. This coming shortly after Disney shocked the entertainment world with their 4.05 billion dollar acquisition of Lucasfilm. This prompted CNBC's David Faber to contact Hasbro for confirmation or denial. According to Hasbro's advisors there is nothing going on between Hasbro and Disney. See below:
Source: Providence Journal
Source: Providence Journal
Providence Journal wrote:Stock in the Pawtucket-based toymaker (HAS:Nasdaq) spiked 6.8 percent to $38.66 at the opening bell amid speculation that Disney (DIS:NYSE) was preparing a multi-billion dollar bid for Hasbro.
Hasbro declined comment, citing its policy of not talking about rumor or speculation. CNBC analyst David Faber reported that Hasbro's advisors told him there's "absolutely nothing going on that they are aware of at all, in any way, shape or form" involving Hasbro or Disney.
Wall Street analysts said a Disney acquisition didn't make much sense, just after Disney agreed to buy Lucasfilm Ltd. for $4.05 billion. And for any deal to happen, Hasbro would have to dissolve agreements with Disney's competitors.