Shares of Jakks Pacific Inc. soared 8.4% in Wednesday trading after media reports that the company was nearing a deal to be acquired by competitor Just Play, a deal backed by private equity firm Centerbridge Partners. Jakks Pacific, whose proprietary brands include Figs and Moose Mountain, has seen its shares sink 66.5% over the past year, compared with a 1.1% rise for the S&P 500 index . Jakks Pacific reported a loss of 96 cents per share and an 11% sales slide to $95.2 million in the most recent quarter. Bloomberg says the deal would be worth 80 cents to 90 cents per share.
JAKKS Pacific, Inc. engages in the design, development, and sale of toys, consumables, electronics, kid's indoor and outdoor furniture, and other consumer products. It operates through the following business segments: United States and Canada, International and Halloween. The United States and Canada segment includes action figures, vehicles, play sets, plush products, dolls, electronic products, construction toys, infant and pre-school toys, role play and everyday costume play, foot to floor ride-on vehicles, wagons, novelty toys, seasonal and outdoor products, kids' indoor and outdoor furniture, and pet treats, and related products, primarily within the United States and Canada. The International segment is responsible for the marketing and sale of toy products in markets outside of the United States and Canada, primarily in the European, Asia Pacific, and Latin and South American regions. The Halloween segment is the marketing and sale of Halloween costumes and accessories and everyday costume play products, primarily in the United States and Canada. The company was founded by Stephen G. Berman and Jack Friedman in January 1995 and is headquartered in Santa Monica, CA.
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