INTERNET--(esecurities.W)--May 14, 1999 - Mattel Completes Merger With The Learning Company.
LOS ANGELES, May 13 /PRNewswire/ -- Mattel, Inc. (NYSE: MAT - news) today announced that it has completed its merger with The Learning Company, and that The Learning Company is now a division of Mattel.
Under terms of the merger agreement, each share of Learning Company common stock will be exchanged for 1.2 shares of Mattel. Former Learning Company shareholders will receive instructions regarding the exchange of their stock certificates shortly.
''This merger gives Mattel a $1 billion software division with an unparalleled portfolio of branded content and profit margins exceeding that of our traditional business,'' Jill E. Barad, Mattel's chairman and chief executive officer, said. ''With the merger completed, we're one step closer to realizing our vision of a 'Mattel.com' web destination that will bring Reader Rabbit®, Barbie®, Carmen Sandiego(TM), Hot Wheels®, Matchbox®, Family Tree Maker®, The Oregon Trail®, American Girl®, Fisher-Price® and our many other proprietary brands together at one site, where we can educate and entertain children and their families all around the world..."
SOURCE: © 1999 Mattel, Inc Company Press Release Thursday May 13, 4:26 pm Eastern Time
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