June 25, 2010
Hasbro (NYSE: HAS ) has been rumored to be in talks with a private-equity firm to go private. However, the toy maker made a statement on Thursday that it, in fact, does not plan to go private. Hasbro was apparently approached by Providence Equity Partners, but its board of directors is not interested in pursuing a deal.
The report goes on to mention that Hasbro's shares rose 10% on the rumor but have since halted. Hasbro, and its competitor Mattel (Nasdaq: MAT ) , experienced a decline in sales throughout the recession, but both have seen a recovery of late in accordance with economy. In addition, Hasbro has plans to partner with Discovery Communications (Nasdaq: DISCA ) in a new children's television network launching Oct. 10, which could make it attractive to potential private investors. Though at least for now, the company remains public.