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00:02Mattel appointed an executive from one of its largest shareholders to its board
00:06as the toy company faces growing pressure from activist investors to consider a sale,
00:12according to the Wall Street Journal.
00:14Mattel announced Wednesday that Edgepoint Investment Group partner Lee Matheson joined
00:19its board under a cooperation agreement. Edgepoint owns about 18% of Mattel. Earlier this month,
00:26Aerial Investments, which holds a 5.4% stake, urged Mattel to consider a divestiture,
00:31merger, or outright sale. Southeastern Asset Management called for a sale in May.
00:37Mattel also attracted takeover interest from authentic brands,
00:40which discussed a deal valuing the company at more than $20 per share.
00:45Mattel named Roger Lynch its next CEO in September.
00:48For all things money, visit Benzinga.com.
