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Mattel shares fall after MGA CEO says toymaker 'cannot be salvaged'
Mattel Inc. MAT,shares fell 2.5% in Wednesday premarket trading after MGA Entertainment Inc.'s Chief Executive Isaac Larian announced he was abandoning pursuit of a merger deal. "With close to $4 billion in debt at an average interest rate of 6.58% (as of March 2019), a staggering 42% in operating expenses, and a major legal liability for having sold a faulty Fisher Price Rock 'n Play Sleeper for years even as multiple baby fatalities occurred, there is simply too much mess to clean up at Mattel," the statement said.
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https://www.marketwatch.com/story/mattel...sSecondary
Mattel Inc. MAT,shares fell 2.5% in Wednesday premarket trading after MGA Entertainment Inc.'s Chief Executive Isaac Larian announced he was abandoning pursuit of a merger deal. "With close to $4 billion in debt at an average interest rate of 6.58% (as of March 2019), a staggering 42% in operating expenses, and a major legal liability for having sold a faulty Fisher Price Rock 'n Play Sleeper for years even as multiple baby fatalities occurred, there is simply too much mess to clean up at Mattel," the statement said.
...
https://www.marketwatch.com/story/mattel...sSecondary
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