|Bid||0.8500 x 900|
|Ask||0.9000 x 2200|
|Day's Range||0.8299 - 0.8900|
|52 Week Range||0.5100 - 2.8500|
|Beta (3Y Monthly)||1.90|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 23, 2019 - Oct 28, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||0.93|
As the toy industry continues to evaluate its options in the wake of the Toys 'R' Us bankruptcy last year, another Los Angeles toy company has received an acquisition offer. Unlike Mattel Inc., which rejected MGA Entertainment's unsolicited offer to merge earlier this year, Jakks Pacific Inc. is considering a sale. The Santa Monica toy company behind such brands as MorfBoard, Squish-Dee-Lish and TP Blaster, as well as licenses for "Frozen," "Godzilla," "Harry Potter" and others, said on Friday that it has received an acquisition offer for 85 cents to 90 cents per share.
JAKKS Pacific, Inc. (NASDAQ: JAKK) says it has received an indication of interest to acquire all of the shares of the company's common stock for 85 cents-90 cents per share on a fully diluted basis. On Thursday afternoon, Bloomberg reported Jakks Pacific received an offer from Alleghany. “The Recapitalization transaction allowed us to continue to pursue our business objectives with renewed vigor and resolve,” said CEO Stephen Berman.
JAKKS Pacific, Inc. (JAKK) (the “Company”) announced today that it has received an additional non-binding expression of interest to acquire all of the shares of the Company’s common stock for an indicated price of between $0.85-$0.90 per share on a fully diluted basis. As previously announced in the Current Report on Form 8-K filed on August 9, 2019 announcing the Company’s successful conclusion of the Recapitalization (as defined therein) transaction with the Ad Hoc Group (as defined therein), Oasis (as defined therein) and Wells Fargo (as defined therein), the Company continued to engage in discussions with another party that previously made a non-binding proposal to acquire all of the shares of the Company’s common stock for an indicated price of $0.80 per share on a fully diluted basis.
(Bloomberg) -- Jakks Pacific Inc., a toymaker exploring a sale amid a steep slide in its share price, has received a takeover offer from the owner of rival Jazwares Inc., according to people familiar with the matter.Alleghany Corp., Jazwares’ parent company, made an offer this week to buy Jakks Pacific for 85 cents a share, said the people, who asked to not be identified because the matter isn’t public. The offer values the Santa Monica, California-based company at about $27.7 million, based on its outstanding share count.No decision has been made and Alleghany could opt to not proceed with its bid, they said. Jazwares has also drawn interest from other potential buyers, including rival toymaker Just Play, they said.Jakks Pacific rose 18.3% to 90 cents at 3:29 p.m. in New York trading, giving the company a market value of about $29.2 million. The company, which had about $161 million in long term debt at June 30, has seen its shares fall about 69% in the past year.Representatives for Jakks Pacific and Alleghany declined to comment. A representative for Just Play didn’t respond to a request for comment. The discussions come as toymakers look to pair up to gain scale and diversify in the wake of the industry-upending bankruptcy last year of Toys “R” US Inc.Hasbro Inc., the world’s largest publicly traded toymaker, agreed last month to pay about $4 billion for Entertainment One Ltd., the maker of the children’s shows Peppa Pig and PJ Masks. MGA Entertainment Inc. made an unsolicited offer this year to buy rival Mattel Inc., which rebuffed the advance.Jakks Pacific has licenses to produce action figures and toys for well-known companies including Walt Disney Co., which owns lots of popular brands such as Marvel and Frozen but charges some of the heftiest royalties in the industry. That, along with the collapse of Toys “R” Us, has weighed on profits. Jakks Pacific has been losing money since 2017.It’s also been in play for most of this year, after shareholder Meisheng Cultural and Creative Corp. of China offered to buy 51% of its shares. In June, Jakks Pacific said it was still continuing to “explore alternative transactions,” according to a regulatory filing.Alleghany, based in New York, is an insurance company that somewhat resembles Berkshire Hathway Inc. It uses income from its insurance policies to make acquisitions in other sectors. It acquired a stake in Jazwares in 2014 and owned 77% of the company at the end of 2018, according to its most recent annual report.Jazwares won the license last year to produce toys for Fortnite, the popular shooting game owned by Epic Games Inc.(Updates to add interest from rival Just Play in third paragraph.)To contact the reporters on this story: Liana Baker in New York at firstname.lastname@example.org;Matt Townsend in New York at email@example.comTo contact the editors responsible for this story: Daniel Hauck at firstname.lastname@example.org, ;Anne Riley Moffat at email@example.com, Matthew Monks, Michael HythaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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Hasbro (HAS) agrees to buy Entertainment One for $4 billion. This buyout is likely to be accretive to the company's EPS in the first year.
SANTA MONICA, Calif., Aug. 22, 2019 -- JAKKS Pacific, Inc. (NASDAQ: JAKK) is scheduled to participate at the 8th Annual Gateway Conference, which is being held September 4-5,.
Although JAKKS Pacific, Inc. (NASDAQ: JAKK ) reported disappointing results for the second quarter, management seemed optimistic about the back half of the year, citing a good start to the third quarter ...
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Just like clockwork, the markets are back to mid-summer roller coaster ride territory. At this point it's not like Disney's Expedition Everest, Space Mountain or Rock n' Roller Coaster, but just enough to make you feel that you are definitely on some kind of ride, and it's not exactly unpleasant, at least at this point. Since my Wednesday column ran the S&P 500 has experienced two more "volatile" days (with volatility defined as up or down at least 1%), and both have been of the positive variety.
JAKKS Pacific, Inc. (JAKK) (the “Company”) announced today that it had entered into multiple, binding definitive agreements (collectively, the “Recapitalization”) among Wells Fargo Bank, National Association (‘Wells Fargo”), Oasis Investments II Master Fund Ltd. (“Oasis”) and an ad hoc group of holders (the “Ad Hoc Group”) of the 4.875% convertible senior notes due 2020 (the “2020 Notes”) to recapitalize the Company’s balance sheet, including the extension to the Company of incremental liquidity and three-year extensions of substantially all of the Company’s outstanding debt obligations. Stephen Berman, CEO and co-founder of the Company, thanked the various participants in the Recapitalization as well as all of the Company’s stakeholders for their strong support and patience: “We are pleased to have such great business partners, co-workers and friends supporting us in what has been an extended pathway to achieve the Recapitalization.
JAKKS Pacific, Inc. will announce second quarter 2019 financial results on Friday, August 9, 2019 before the opening of the stock market. The Company will also hold a teleconference and webcast to discuss the results, and may also discuss future plans and prospects.
Jakks (JAKK) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
The big shareholder groups in JAKKS Pacific, Inc. (NASDAQ:JAKK) have power over the company. Institutions will often...
JAKKS Pacific (JAKK) is grappling with declining demand and sales. A challenging retail environment for toys, cost issues and increasing competition remain potential headwinds.