Mattel: Ariel Investments urges board to explore strategic alternatives
Activist investor Ariel Investments, which holds 5.4% of Mattel's shares, urged the toy maker's board to hire an independent financial advisor to explore options including asset divestitures, mergers, or a sale.
Ariel Investments says it has urged Mattel’s board to retain an independent financial adviser to explore strategic alternatives for the company. 4% of Mattel’s outstanding shares. Ariel Investments said it believes Mattel’s shares remain significantly undervalued under its current structure as an independent public company. It said possible alternatives could include divestiture of significant assets, a merger and/or an outright sale of Mattel.