Hasbro announces offering of $875.0M of common stock
Hasbro announced it has commenced an underwritten registered public offering of $875.0M of shares of its common stock. Hasbro intends to use the net proceeds of the offering to finance, in part, its proposed acquisition of Entertainment One Ltd., and to pay related costs and expenses. The closing of the offering is not conditioned upon the consummation of the proposed acquisition. If the proposed acquisition is not consummated, Hasbro intends to use the net proceeds of the offering to repurchase its common stock or for general corporate purposes, which may include debt repayment, capital expenditures and investments. BofA Securities, J.P. Morgan Securities, and Citigroup Global Markets are acting as joint book-running managers for the offering.