MGA Entertainment, the toy company that owns the Bratz and L.O.L. Surprise! dolls, continues to pursue a purchase of Barbie maker Mattel.
MGA, which first approached Mattel about a deal in April 2015 and did so again last year, made another offer in May that Mattel rejected.
Isaac Larian, the founder and CEO of MGA, Larian said in the most recent offer to Mattel chairman and CEO Ynon Kreiz, dated May 21, that “Mattel is clearly failing” and that a merger would benefit both companies. Larian proposed that he become the new chairman and CEO of Mattel and that all board members should step down immediately without receiving any further compensation.