Hasbro Gains after Activist Seeks Five Board Seats, Urges Wizards Unit Spinoff

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Hasbro Gains after Activist Seeks Five Board Seats, Urges Wizards Unit Spinoff

Seeking Alpha2022-02-17

Hasbro Inc.(NASDAQ:HAS)rose 3.1% in after hours trading after a report that an activist investor is seeking five board seats and wants the toy company to spin off its Wizards unit.

Activist Alta Fox Capital Management is seeking the board seats and wants the company to spin off the unit that produces Dungeons & Dragons, known as Wizards of the Coast and Digital Gaming, according to a WSJ report, which cited a letter Alta Fox will be sending to shareholders.

Hasbro confirmed receipt of the board nominees and said it will review the candidates in a statement.The toymaker said it has had discussions with Alta Fox to understand the investor's view on the company's strategy.

"The board and management team believe Hasbro is on the right path to deliver sustainable growth for shareholders, and consistent with its shareholder value creation plans, regularly review the business and its strategic direction," Hasbro said in the statement.

Alta Fox has a 2.5% stake in Hasbro (HAS) valued at about $325M, the WSJ said. Alta Fox argues that Hasbro could double its valuation by spinning off the unit that houses the Dungeons & Dragons business. The activist believes the business would be around about $13B, the same as the company's current market cap.

Last month, Hasbro named Chris Cocks as its next CEO. Cocks, who is scheduled to officially take over as CEO next week, was previously president and chief operating officer of the Wizards of the Coast and Digital Gaming division.

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seekexin
·2022-02-17
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hotwheels
·2022-02-17
The company to spin off the unit that produces Dungeons & Dragons, known as Wizards of the Coast and Digital Gaming.
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PengsieX
·2022-02-17
Magic the gathering
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Cocks, who is scheduled to officially take over as CEO next week, was previously president and chief operating officer of the Wizards of the Coast and Digital Gaming division.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hasbro Gains after Activist Seeks Five Board Seats, Urges Wizards Unit Spinoff</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHasbro Gains after Activist Seeks Five Board Seats, Urges Wizards Unit Spinoff\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-17 11:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3801204-hasbro-gains-after-activist-seeks-five-board-seats-urges-wizards-unit-spinoff><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Hasbro Inc.(NASDAQ:HAS)rose 3.1% in after hours trading after a report that an activist investor is seeking five board seats and wants the toy company to spin off its Wizards unit.Activist Alta Fox ...</p>\n\n<a href=\"https://seekingalpha.com/news/3801204-hasbro-gains-after-activist-seeks-five-board-seats-urges-wizards-unit-spinoff\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HAS":"孩之宝"},"source_url":"https://seekingalpha.com/news/3801204-hasbro-gains-after-activist-seeks-five-board-seats-urges-wizards-unit-spinoff","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1173427653","content_text":"Hasbro Inc.(NASDAQ:HAS)rose 3.1% in after hours trading after a report that an activist investor is seeking five board seats and wants the toy company to spin off its Wizards unit.Activist Alta Fox Capital Management is seeking the board seats and wants the company to spin off the unit that produces Dungeons & Dragons, known as Wizards of the Coast and Digital Gaming, according to a WSJ report, which cited a letter Alta Fox will be sending to shareholders.Hasbro confirmed receipt of the board nominees and said it will review the candidates in a statement.The toymaker said it has had discussions with Alta Fox to understand the investor's view on the company's strategy.\"The board and management team believe Hasbro is on the right path to deliver sustainable growth for shareholders, and consistent with its shareholder value creation plans, regularly review the business and its strategic direction,\" Hasbro said in the statement.Alta Fox has a 2.5% stake in Hasbro (HAS) valued at about $325M, the WSJ said. Alta Fox argues that Hasbro could double its valuation by spinning off the unit that houses the Dungeons & Dragons business. The activist believes the business would be around about $13B, the same as the company's current market cap.Last month, Hasbro named Chris Cocks as its next CEO. Cocks, who is scheduled to officially take over as CEO next week, was previously president and chief operating officer of the Wizards of the Coast and Digital Gaming division.","news_type":1,"symbols_score_info":{"HAS":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":9094342648,"gmtCreate":1645067974050,"gmtModify":1676533993955,"author":{"id":"3578047933589423","authorId":"3578047933589423","name":"PengsieX","avatar":"https://static.tigerbbs.com/ebe92821eba3b91a6431d698b66bbed5","vip":2,"hat":"https://static.tigerbbs.com/f84859c65fc2d7681e28f6b8e9b0535a","crmLevel":12,"crmLevelSwitch":1,"authorIdStr":"3578047933589423","idStr":"3578047933589423"},"htmlText":"Magic the gathering&nbsp;","listText":"Magic the gathering&nbsp;","text":"Magic the gathering","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9094342648","repostId":1173427653,"repostType":4,"repost":{"id":"1173427653","kind":"news","pubTimestamp":1645066966,"share":"https://ttm.financial/m/news/1173427653?lang=&edition=fundamental","pubTime":"2022-02-17 11:02","market":"us","language":"en","title":"Hasbro Gains after Activist Seeks Five Board Seats, Urges Wizards Unit Spinoff","url":"https://stock-news.laohu8.com/highlight/detail?id=1173427653","media":"Seeking Alpha","summary":"Hasbro Inc.(NASDAQ:HAS)rose 3.1% in after hours trading after a report that an activist investor is ","content":"<html><head></head><body><p>Hasbro Inc.(NASDAQ:HAS)rose 3.1% in after hours trading after a report that an activist investor is seeking five board seats and wants the toy company to spin off its Wizards unit.</p><p>Activist Alta Fox Capital Management is seeking the board seats and wants the company to spin off the unit that produces Dungeons &amp; Dragons, known as Wizards of the Coast and Digital Gaming, according to a WSJ report, which cited a letter Alta Fox will be sending to shareholders.</p><p>Hasbro confirmed receipt of the board nominees and said it will review the candidates in a statement.The toymaker said it has had discussions with Alta Fox to understand the investor&#39;s view on the company&#39;s strategy.</p><p>&#34;The board and management team believe Hasbro is on the right path to deliver sustainable growth for shareholders, and consistent with its shareholder value creation plans, regularly review the business and its strategic direction,&#34; Hasbro said in the statement.</p><p>Alta Fox has a 2.5% stake in Hasbro (HAS) valued at about $325M, the WSJ said. Alta Fox argues that Hasbro could double its valuation by spinning off the unit that houses the Dungeons &amp; Dragons business. The activist believes the business would be around about $13B, the same as the company&#39;s current market cap.</p><p>Last month, Hasbro named Chris Cocks as its next CEO. Cocks, who is scheduled to officially take over as CEO next week, was previously president and chief operating officer of the Wizards of the Coast and Digital Gaming division.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hasbro Gains after Activist Seeks Five Board Seats, Urges Wizards Unit Spinoff</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHasbro Gains after Activist Seeks Five Board Seats, Urges Wizards Unit Spinoff\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-17 11:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3801204-hasbro-gains-after-activist-seeks-five-board-seats-urges-wizards-unit-spinoff><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Hasbro Inc.(NASDAQ:HAS)rose 3.1% in after hours trading after a report that an activist investor is seeking five board seats and wants the toy company to spin off its Wizards unit.Activist Alta Fox ...</p>\n\n<a href=\"https://seekingalpha.com/news/3801204-hasbro-gains-after-activist-seeks-five-board-seats-urges-wizards-unit-spinoff\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HAS":"孩之宝"},"source_url":"https://seekingalpha.com/news/3801204-hasbro-gains-after-activist-seeks-five-board-seats-urges-wizards-unit-spinoff","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1173427653","content_text":"Hasbro Inc.(NASDAQ:HAS)rose 3.1% in after hours trading after a report that an activist investor is seeking five board seats and wants the toy company to spin off its Wizards unit.Activist Alta Fox Capital Management is seeking the board seats and wants the company to spin off the unit that produces Dungeons & Dragons, known as Wizards of the Coast and Digital Gaming, according to a WSJ report, which cited a letter Alta Fox will be sending to shareholders.Hasbro confirmed receipt of the board nominees and said it will review the candidates in a statement.The toymaker said it has had discussions with Alta Fox to understand the investor's view on the company's strategy.\"The board and management team believe Hasbro is on the right path to deliver sustainable growth for shareholders, and consistent with its shareholder value creation plans, regularly review the business and its strategic direction,\" Hasbro said in the statement.Alta Fox has a 2.5% stake in Hasbro (HAS) valued at about $325M, the WSJ said. Alta Fox argues that Hasbro could double its valuation by spinning off the unit that houses the Dungeons & Dragons business. The activist believes the business would be around about $13B, the same as the company's current market cap.Last month, Hasbro named Chris Cocks as its next CEO. Cocks, who is scheduled to officially take over as CEO next week, was previously president and chief operating officer of the Wizards of the Coast and Digital Gaming division.","news_type":1,"symbols_score_info":{"HAS":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":48,"commentSize":3,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"isCrawlerRequest":true}