Carnegie Investment to Buy Stake in Mattel

Carnegie Investment Management Ltd. offered to buy up to 11.34 million shares, or 3%, of Mattel Inc. for $14.35 a share to gain an equity position in the world’s No. 1 toy maker. Carnegie Investment, a private company based in the Cayman Islands, said the offer is open to all Mattel stockholders, except holders of restricted shares. The offer represents a 5.8% premium for Mattel shareholders based on Monday’s closing price. The offer for the El Segundo-based maker of the Barbie doll and Hot Wheels toy cars will expire Nov. 29 at 2 p.m. Pacific time, but may be extended, Carnegie said. Shares of Mattel rose 13 cents to $13.56. Its shares have fallen 42% this year. Carnegie made its offer after the close of regular U.S. trading.