EL SEGUNDO, Calif., Aug. 31 /PRNewswire-FirstCall/ -- Mattel, Inc.
(NYSE: MAT) today announced that on August 29, 2006, the Federal Trade
Commission granted early termination of the waiting period imposed by the
Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, with
respect to Mattel's proposed acquisition of Radica Games Limited (Nasdaq:
RADA), which was previously announced on July 26, 2006. In addition, on
August 30, 2006, the German Federal Cartel Office terminated the waiting
period with respect to the proposed transaction pursuant to the German Act
Against Restraints of Competition. Termination of the waiting periods
satisfies one of the conditions for closing the proposed transaction, which
is subject to approval of Radica shareholders and other customary closing
conditions. It is expected that the transaction will be completed in the
fourth quarter of 2006.
About Mattel
Mattel, Inc., (NYSE: MAT; http://www.mattel.com) is the worldwide leader in
the design, manufacture and marketing of toys and family products,
including Barbie(R), the most popular fashion doll ever introduced. The
Mattel family is comprised of such best-selling brands as Hot Wheels(R),
Matchbox(R), American Girl(R) and Tyco(R) R/C, as well as Fisher-Price(R)
brands (http://www.fisher-price.com), including Little People(R), Rescue
Heroes(R), Power Wheels(R) and a wide array of entertainment-inspired toy
lines. With worldwide headquarters in El Segundo, Calif., Mattel employs
more than 25,000 people in 42 countries and sells products in more than 150
nations throughout the world. Mattel's vision is to be the world's premier
toy brands -- today and tomorrow.
Note: Forward-looking statements with respect to the completion of the
transaction and the financial condition, results of operations and business
of the company are subject to certain risks and uncertainties that could
cause actual results to differ materially from those set forth in such
statements. These include, without limitation: uncertainty as to whether
and in what timeframe the transaction will be completed, the failure to
obtain the approval of Radica's shareholders; the failure of either party
to meet the closing conditions set forth in the definitive agreement; the
ability to retain key personnel both before and after the transaction
closes; ongoing relations between Radica and its suppliers, customers and
other parties; costs and other issues with respect to integrating Radica,
its products and its employees into Mattel and achieving expected
synergies; dependence on the timely development, manufacture, introduction
and customer acceptance of new products; the seasonality of the toy
business; customer concentration and pricing; significant changes in buying
and payment patterns of major customers, including as a result of
bankruptcy and store closures; adverse changes in general economic
conditions in the U.S. and internationally, including adverse changes in
the retail environment, employment and the stock market; order
predictability and supply chain management; the impact of competition,
including from private label toys, on revenues and margins; the supply and
cost of raw materials (including oil and resin prices), components,
employee benefits and various services; the effect of currency exchange
rate fluctuations on reportable income; risks associated with acquisitions
and mergers; the possibility of product recalls and related costs; risks
associated with foreign operations; negative results of litigation,
governmental proceedings or environmental matters; changes in law and
regulations; possible work stoppages, slowdowns or strikes; possible
outbreaks of SARS, bird flu or other diseases; political developments and
the threat or occurrence of war or terrorist acts; the possibility of
catastrophic events; the inherent risk of new initiatives; and other risks
and uncertainties as may be detailed from time to time in public
announcements and SEC filings. This release contains forward-looking
statements within the meaning of federal securities laws. Readers are
cautioned not to place undue reliance on these forward looking statements
and any such forward-looking statements are qualified in their entirety to
the cautionary statements contained in this press release. Mattel does not
update forward-looking statements and expressly disclaims any obligation to
do so.
SOURCE Mattel, Inc.
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Related links:
http://www.fisher-price.com
http://www.mattel.com
http://www.prnewswire.com/comp/540363.html /
CONTACT:
News Media, Lisa Marie Bongiovanni,
+1-310-252-3524, LisaMarie.Bongiovanni@mattel.com, or Securities
Analysts, Mike Salop, +1-310-252-2703, Mike.Salop@mattel.com,
both of Mattel, Inc.
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