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June 15, 1994 | From Times Staff and Wire Reports
British High Court Throws Out Hasbro Suit: The toy maker had claimed that a bid by rival Mattel for J.W. Spear & Sons, which owns overseas rights to the board game Scrabble, was invalid. But the court disagreed and ruled that trustees controlling nearly 25% of Spear are not bound by an earlier commitment to sell to Hasbro. Hasbro has two days to appeal, or it could increase its initial offer, which valued the company at about $70 million. Mattel's bid was $78 million.
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BUSINESS
June 15, 1994 | From Times Staff and Wire Reports
British High Court Throws Out Hasbro Suit: The toy maker had claimed that a bid by rival Mattel for J.W. Spear & Sons, which owns overseas rights to the board game Scrabble, was invalid. But the court disagreed and ruled that trustees controlling nearly 25% of Spear are not bound by an earlier commitment to sell to Hasbro. Hasbro has two days to appeal, or it could increase its initial offer, which valued the company at about $70 million. Mattel's bid was $78 million.
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BUSINESS
June 4, 1994 | Reuters
U.S. toy maker Mattel Inc. on Friday announced a $78.32-million offer for British games maker J.W. Spear & Sons, a last-minute bid to spoil the party for main competitor Hasbro Inc. Spear is best known for holding the rights outside the United States to the popular word game Scrabble. The move again pits Mattel against archrival Hasbro. Mattel last year dropped a multimillion-dollar lawsuit after Hasbro agreed to make its best-selling doll, Sindy, look less like Mattel's Barbie.
BUSINESS
July 9, 1994 | From Times Staff and Wire Reports
U.S. game maker Hasbro Inc. upped the ante Friday in its bid for a worldwide monopoly to sell the board game Scrabble. Hasbro, which owns U.S. rights to the game, offered to pay 10% more than El Segundo-based Mattel Inc. has already bid for J.W. Spear & Sons, a British company with the rights to sell Scrabble outside North America. Hasbro bid $16.50 per share for the 73.3% of J.W. Spear that it does not already own, valuing the takeover target at $86 million. Mattel had previously bid $15.
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