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Benzinga
Benzinga
Business
Shivani Kumaresan

Activist Investor Ancora Urges Hasbro To Sell Entertainment One Unit

HAS Ancora Hasbro Entertainment One Entertainment Nasdaq Hasbro Inc.
  • Ancora Holdings Group, LLC, the activist investor with a 1% stake in Hasbro Inc (NASDAQ: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 (NASDAQ: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
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