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Hasbro Inc

BUSINESS
December 10, 1997 | From Times Wire Services
Philip Morris Cos. and toy maker Hasbro Inc. delivered bleak Christmas tidings to their work forces on Tuesday with layoff announcements. Philip Morris said it will slash 2,500 jobs to restructure its international food business, hoping to make the sluggish division as profitable as the company's North American tobacco and food businesses. Hasbro said it also plans to cut about 2,500 positions, or 20% of its work force.
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BUSINESS
April 19, 1997 | Bloomberg News
Hasbro Inc. will pay a $120,000 penalty and revoke advertising claiming that toys treated with a certain antibacterial pesticide protect children, the U.S. Environmental Protection Agency said. Overall, the agreement with the EPA is expected to cost Hasbro "well in excess of a million dollars," the agency said. Pawtucket, R.I.
BUSINESS
March 14, 1996 | From Associated Press
Former junk bond king Michael Milken and Oracle Systems Corp. Chairman Larry Ellison said Wednesday they are forming a new company that will use advances in technology and entertainment to improve education. Possible projects for Educational Technologies could include the development of networked computer stations and education software to run on them, Milken said. "This is a passion with me.
BUSINESS
February 3, 1996 | GEORGE WHITE, TIMES STAFF WRITER
Toy industry giant Mattel Inc. on Friday withdrew its $5.2-billion offer for Hasbro Inc., saying the No. 2 toy maker's "scorched-earth campaign" opposing the deal ruined prospects for quick regulatory approval. Hasbro "elected to take drastic steps, both politically and through the media, to greatly increase the difficulty of achieving a merger in a timely manner," John Amerman, chairman of El Segundo-based Mattel, said in a letter to its rival Friday.
BUSINESS
February 3, 1996 | From Bloomberg Business News
Lord Licorice would not be amused. A Seattle company is using the name Candyland for an Internet site containing sexually explicit text and photographs. Toy maker Hasbro Inc. is suing the company, Internet Entertainment Group, in federal court, claiming that Hasbro has exclusive rights to use the trademark Candy Land name of its board game for children. Pawtucket, R.I.-based Hasbro argues in its suit that Internet Entertainment is sullying the name of a wholesome children's game.
BUSINESS
February 2, 1996 | From Reuters
Hasbro Inc. came under fierce attack Thursday from one of Wall Street's most influential investors, who said the toy maker should accept Mattel Inc.'s $5.2-billion acquisition offer. "We are incredibly in support of the Mattel offer," said Michael Price, president of New Jersey-based Mutual Shares Corp. Hasbro Chairman Alan Hassenfeld "has 9% of the stock and he's stopping 91% of the stock from having a payday," Price said.
BUSINESS
January 31, 1996 | MARTHA GROVES, TIMES STAFF WRITER
Toy industry kingpin Mattel Inc. on Tuesday continued its campaign to woo shareholders of rival Hasbro, urging the maker of GI Joe to reconsider walking down the aisle with Barbie's producer in a $5.2-billion buyout offer. Hasbro, meanwhile, picked up some high-profile Hollywood support for its effort to remain independent.
BUSINESS
January 26, 1996 | TOM PETRUNO
Hasbro Inc. looks at Mattel Inc.'s surprise merger offer and sees only obstacles. What Mattel sees, however, is a great opportunity to enhance what is already a phenomenal Wall Street growth story. For Mattel CEO John Amerman, buying Hasbro would be a crowning achievement after nine years at the helm of the world's biggest toy maker--a tenure during which the now 63-year-old Amerman took a near-bankrupt, misdirected business and made it a global marketing dynamo.
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