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. Last Updated: 07/27/2016

Mattel Buys Tyco

NEW YORK () -- Mattel Inc., which failed to acquire rival Hasbro Inc. early this year, said Monday that it is acquiring Tyco Toys Inc. in a stock transaction valued at $755 million.

Under the agreement, Tyco shareholders will receive Mattel stock worth $12.50 for each Tyco share. Based on Friday's closing stock prices, the deal represents a 78 percent premium for Tyco shareholders.