MAT - Mattel - toysRthem Message Board

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Non-Tech : MAT - Mattel - toysRthem

MAT 19.79

-1.3%

3:56 PM EST

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To: John Finley who wrote (299)	11/2/1999 2:02:00 AM
From: KS	Read Replies (1) of 706

This just in... November 02, 1999 01:51 Firm offers to buy three pct of Mattel's shares NEW YORK, Nov 2 (Reuters) - Money manager Carnegie Investment Management said it is offering to buy 11.34 million shares of toy maker Mattel Inc. for $14.35 each. That would amount to about three percent of the outstanding shares of Mattel, whose shares gained 1/8, to 13-1/2, in trading Monday on the New York Stock Exchange. Mattel has recently had earnings troubles caused by large losses at its Learning Co. unit, causing the company to lower expectations for the fourth quarter. The shares have fallen off a 52-week high of 40-1/2. If more than 11.34 million shares are tendered under its offer, Carnegie said it may buy the excess shares up to a maximum of 18.9 million shares, or about five percent. Carnegie said its offer will expire on Nov. 29, unless extended. ************** They're trying to buy shares of FTL also. My question is "why"????? If these stocks have little value, why do they want them? If there's value, why should we sell them? Any opinions? KS

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