Hasbro Advisers Deny Disney Acquisition Rumor; Hasbro Stocks Up
created 11/07/2012 - 10:34pm
With the news that Disney has acquired Star Wars came a rumor that they also set their sights on Hasbro.
It was rumored that there were discussions going on between the two that could end up with an announcement at any time.
The resulting speculation that Disney was going to buy Hasbro actually caused Hasbro's stock to jump over 6 percent.
However, a CNBC analyst reportedly received word from Hasbro advisers that no such talks were underway and denied the rumor.
"CNBC analyst David Faber reported that Hasbro's advisors told him there's 'absolutely nothing going on that they are aware of at all, in any way, shape or form" involving Hasbro or Disney,'" reports the Providence Journal.
The Providence Journal goes on to state that "Wall Street analysts said a Disney acquisition didn't make much sense, just after Disney agreed to buy Lucasfilm Ltd. for $4.05 billion. And for any deal to happen, Hasbro would have to dissolve agreements with Disney's competitors."
While the news of the denial saw Hasbro's stock fall back down some, after two days following the first mention of the rumor, the Hasbro stock is still up 6.2 percent.
It's also noted that Hasbro didn't officially comment as it's not their policy to comment on speculation and rumor.