Quick reminder that tomorrow I'll be interviewing Kim Posnett, global head of Internet banking at Goldman Sachs, in San Francisco as part of the Virtuous Circle Summit. Okay, here we go...
Hasbro (Nasdaq: HAS) has offered to acquire rival toy-maker Mattel (Nasdaq: MAT), as first reported by the WSJ. Mattel closed Friday trading with a market cap just north of $5 billion, but its shares spiked around 25% in aftermarket trading.
- Why it's the BFD: Because this would be a merger of the country's two largest toy-makers. Plus, it may cause major jealousy issues for Ken, as Barbie and GI Joe would be living under the same corporate roof.
- Bottom line: These are two companies moving in opposite directions, as Hasbro shares are up around 13% this year while Mattel was off 47% before news of a possible sale. One differentiator for Pawtucket, R.I.-based Hasbro has been its strategy of buying toy rights to popular entertainment franchises like Star Wars.
• Apple (Nasdaq: AAPL) has acquired InVisage Technologies, a Newark, Calif.-based company focused on improving imaging capabilities on smaller devices. InVisage had raised over $100 million since 2007, from firms like InterWest Partners, GGV Capital, Nokia Growth Partners, RockPort Capital, Intel Capital and Arsenal Venture Partners. http://axios.link/R2h2
• Leavitt Equity Partners, a Utah-based private equity firm, is raising up to $125 million for its second fund, per an SEC filing. www.leavittpartners.com
Final Numbers: Private Capital Comp
- More from Preqin report: "Base salary mostly increased for mid-level (i.e., VP and sr. associate) and junior level (i.e., associate/analyst) functions. Across all levels of seniority, the largest proportion (65%) of firms saw no change in base salary at executive management level, and 2% of firms saw a decrease."