- Ancora Holdings Group, LLC, the activist investor with a 1% stake in Hasbro Inc HAS, has urged the toymaker to sell its Entertainment One unit.
- Ancora, through a letter sent to the company’s board, also urged Hasbro to replace longstanding directors on its board.
- Hasbro shareholders are set to vote on the competing director slates on June 8.
- Ancora has joined the ranks of the other activist investor, Alta Fox, that had earlier urged the toymaker to consider spinning off its Wizards of the Coast gaming unit.
- The activist pressure comes as rival toymaker Mattel Inc MAT has held talks with private-equity firms about a potential sale, the Wall Street Journal reported.
- Price Action: HAS shares are trading higher by 0.93% at $90.50 in premarket on the last check Tuesday.
- Photo Via Wikimedia Commons
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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