Activist Investor Ancora Urges Hasbro To Sell Entertainment One Unit

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.
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