VANCOUVER, BC (September 14, 2011) Clearlease Financial Reports A potential takeover battle for California toy company Jakks Pacific could help boost the value of Montreal-based rival Mega Brands as it tries to recover after a few difficult years, industry analysts said Wednesday Sept. 14, 2011.
Oaktree Capital Management has offered US$670 million to purchase Jakks Pacific (Nasdaq:JAKK). The US$20 per share bid represents a 25 per cent premium over its closing price on Tuesday and the average closing price in the last 24 months.
The offer prompted Jakks shares to soar by more than 22 per cent to US$19.56 in Wednesday trading on the Nasdaq exchange.
Applying the valuation of Jakks to Mega Brands (TSX:MB) would put its value at around C$12 per share, representing a potential 33 per cent upside on its current trading price, says Martin Landry of GMP Securities.
“In our view, Jakks Pacific represents a good comparable to Mega Brands,” Landry wrote in a report
“This activity highlights interest in the toy industry, which has undergone consolidation for several years,” .
But Garrick Johnson of BMO Capital Markets said Oaktree’s current offer would have little impact on his valuation of Mega Brands.
“If this offer goes higher, which it likely will, then it would indicate that Mega Brand might be worth a little bit more, but not at the current offer,” Johnson said in an interview.
Johnson said the private equity player sees value in Jakks’ cash flow and earnings and lack of debt.
The proposed takeover marks the second in the U.S. toy industry this year. Japan-based Tomy Company purchased RC2 Corporation.
Jakks responded to Oaktree’s interest on Wednesday by saying it will carefully consider the “conditional non-binding indication of interest” that is subject to the completion of financial and legal due diligence and financing.
Although the toy companies have some similarities, Jakks’s US$747 million in revenue last year was twice as high as the Canadian company’s.. Mega Brands hopes to return to $500 million of annual sales within a few years.
Should it become an acquisition target, Mega Brands would likely find possible suitors among big established toy industry players because of its portfolio, including pre-school construction toys, and the fact it too is “significantly undervalued,” Johnson added.
During its darkest period after a series of product recalls hammered its sales and profits, Mega Brands was thought to have been looked at by several potential buyers, including Jakks.
But its fortunes have been improving following a recapitalization, attraction of new licences and development of products.
Mega Brands has also hired two respected industry veterans: Drew Stevenson as head of North American sales and Tom Prichard as president of its stationery and activities business.
“I think things are looking better for them,” said Johnson.
Landry maintained his buy rating and target price on Mega Brands stock of C$11, which represents a potential upside of 22 per cent from current levels.
He said challenges such as construction toy competition from Hasbro, rising input costs and a mature industry have already been factored into the current share price.
However, licensing agreements for Halo, Need for Speed and others could boost revenues by 25 per cent or nearly C$100 million over three years.
Some of the Business Equipment Clearlease Finance include:
Equipment Types: Backhoe, Skid Steer, Excavator, Telehandler, Loader, Mulcher, Skidder, Trailers, Used Equipment – All Types, Wood Chippers
Clearlease are specialists in; lease, equipment leasing, leasing, lease equipment, equipment lease Canada, equipment financing, financing, leasing companies, leases, equipment leases, lease financing, equipment lease finance, business financing, lease new, lease used, commercial equipment lease, business finance, business lease, truck lease, truck financing, auto financing, commercial vehicle lease, business financing specialist, leasing services Vancouver, BC, alberta, lease canada, bobcat, skid steer, excavator, loader, heavy equipment.
For more information please visit us at: http://clearlease.com/equipment.html
Clearlease Equipment Lease Financing, Commercial Financing Mortgage Refinance Mortgage Auto Lease, Vendor Program – Clearlease
Clearlease Video Link: http://youtu.be/fROP17iUSEg
For more information please visit us at: http://www.clearlease.com/equipment.html
About Clearlease
Clearlease Financial Group Corporation (Clearlease.com) may be able provide you with fully diversified Lease Finance Mortgage Banking Brokerage service specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Contact Clearlease.com:
Clearlease Financial Group Corporation
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 716-0495
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
Facebook: http://www.facebook.com/Clearlease
Facebook: http://www.facebook.com/pages/Dominion-Lending-Centres-Clearlease/158245787557542
Clearlease Financial Group Corporation are specialists in;
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( Video Link: http://youtu.be/fROP17iUSEg )
VANCOUVER, BC (September 14, 2011) Clearlease Financial Reports A potential takeover battle for California toy company Jakks Pacific could help boost the value of Montreal-based rival Mega Brands as it tries to recover after a few difficult years, industry analysts said Wednesday Sept. 14, 2011.
Oaktree Capital Management has offered US$670 million to purchase Jakks Pacific (Nasdaq:JAKK). The US$20 per share bid represents a 25 per cent premium over its closing price on Tuesday and the average closing price in the last 24 months.
The offer prompted Jakks shares to soar by more than 22 per cent to US$19.56 in Wednesday trading on the Nasdaq exchange.
Applying the valuation of Jakks to Mega Brands (TSX:MB) would put its value at around C$12 per share, representing a potential 33 per cent upside on its current trading price, says Martin Landry of GMP Securities.
“In our view, Jakks Pacific represents a good comparable to Mega Brands,” Landry wrote in a report
“This activity highlights interest in the toy industry, which has undergone consolidation for several years,” .
But Garrick Johnson of BMO Capital Markets said Oaktree’s current offer would have little impact on his valuation of Mega Brands.
“If this offer goes higher, which it likely will, then it would indicate that Mega Brand might be worth a little bit more, but not at the current offer,” Johnson said in an interview.
Johnson said the private equity player sees value in Jakks’ cash flow and earnings and lack of debt.
The proposed takeover marks the second in the U.S. toy industry this year. Japan-based Tomy Company purchased RC2 Corporation.
Jakks responded to Oaktree’s interest on Wednesday by saying it will carefully consider the “conditional non-binding indication of interest” that is subject to the completion of financial and legal due diligence and financing.
Although the toy companies have some similarities, Jakks’s US$747 million in revenue last year was twice as high as the Canadian company’s.. Mega Brands hopes to return to $500 million of annual sales within a few years.
Should it become an acquisition target, Mega Brands would likely find possible suitors among big established toy industry players because of its portfolio, including pre-school construction toys, and the fact it too is “significantly undervalued,” Johnson added.
During its darkest period after a series of product recalls hammered its sales and profits, Mega Brands was thought to have been looked at by several potential buyers, including Jakks.
But its fortunes have been improving following a recapitalization, attraction of new licences and development of products.
Mega Brands has also hired two respected industry veterans: Drew Stevenson as head of North American sales and Tom Prichard as president of its stationery and activities business.
“I think things are looking better for them,” said Johnson.
Landry maintained his buy rating and target price on Mega Brands stock of C$11, which represents a potential upside of 22 per cent from current levels.
He said challenges such as construction toy competition from Hasbro, rising input costs and a mature industry have already been factored into the current share price.
However, licensing agreements for Halo, Need for Speed and others could boost revenues by 25 per cent or nearly C$100 million over three years.
Some of the Business Equipment Clearlease Finance include:
Equipment Types: Backhoe, Skid Steer, Excavator, Telehandler, Loader, Mulcher, Skidder, Trailers, Used Equipment – All Types, Wood Chippers
Clearlease are specialists in; lease, equipment leasing, leasing, lease equipment, equipment lease Canada, equipment financing, financing, leasing companies, leases, equipment leases, lease financing, equipment lease finance, business financing, lease new, lease used, commercial equipment lease, business finance, business lease, truck lease, truck financing, auto financing, commercial vehicle lease, business financing specialist, leasing services Vancouver, BC, alberta, lease canada, bobcat, skid steer, excavator, loader, heavy equipment.
For more information please visit us at: http://clearlease.com/equipment.html
Clearlease Equipment Lease Financing, Commercial Financing Mortgage Refinance Mortgage Auto Lease, Vendor Program – Clearlease
Clearlease Video Link: http://youtu.be/fROP17iUSEg
For more information please visit us at: http://www.clearlease.com/equipment.html
About Clearlease
Clearlease Financial Group Corporation (Clearlease.com) may be able provide you with fully diversified Lease Finance Mortgage Banking Brokerage service specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Contact Clearlease.com:
Clearlease Financial Group Corporation
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 716-0495
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
Facebook: http://www.facebook.com/Clearlease
Facebook: http://www.facebook.com/pages/Dominion-Lending-Centres-Clearlease/158245787557542
Clearlease Financial Group Corporation are specialists in;
lease, equipment leasing, leasing, lease equipment, equipment lease Canada, equipment financing, financing, leasing companies, leases, equipment leases, lease financing, equipment lease finance, business financing, lease new, lease used, commercial equipment lease, business finance, business lease, truck lease, truck financing, auto financing, commercial vehicle lease, business financing specialist, leasing services Vancouver, BC, Alberta, lease canada, bobcat, skid steer, excavator, loader, heavy equipment,Leasing Services vancouver,British columbia,Lease Canada, Agricultural Equipment Leasing, Business Computers Leasing, Construction, Dry Cleaning Equipment Leasing, Fitness Equipment Leasing, Forestry Equipment Leasing, Industrial Equipment Leasing, Medical ,Metalworking Equipment Leasing Office Equipment Leasing,Oil & Gas Equipment Leasing,Printing Equipment Leasing Restaurant Equipment Leasing,Self Storage Equipment Leasing,Software Equipment Leasing Telecommunications Equipment Leasing,Used Equipment Leasing,Wholesale Reatil Equipment Leasing, Commercial Equipment Leasing,Industrial Equipment Leasing,Manufacturing Equipment Leasing, Commercial Solar Panel Financing, Equipment Leasing Canada, Farm Equipment Leasing,Forklift Leasing,Medical Equipment Leasing, Computer Equipment Leasing,Entertainment Equipment Leasing, Green Manufacturing Equipment Leasing,Equipment Vendor Leasing, Vendor Finance,Vendor Equipment Leasing Programs,Business Finance,Commercial Leasing,Equipment Lease Calculator,Equipment Leasing Quote, Renewable Energy Equipment Leasing,Business Equipment Lease,Mortgage Information,Credit Line,Residential Mortgage, Commercial Lending,Commercial Mortgage,Commercial Mortgage Lending, Refinance,Sale Leaseback, DLC Clearlease,Using a Mortgage Profesional,Benefits,Cost,Home Purchase,Buying a Home, Home Purchase calculators,Current Mortgage Rates,How to Apply for a Mortgage, Refinance your Current Mortgage,Mortgage Renewal,Home Equity,Mortgage Life Insurance, Commercial Mortgage Financing,Canada,BC,ALTA,British Columbia,Alberta, Vancouver, BC Lower Mainland, Mortgage Broker,Rates,Calculator,Dominion Lending Centres,Clearlease, Mortgage Financing,BC Home Mortgages,Best Mortgage Rates,Financial Services,First Time Home Buyer, Refinance,ALTA Home Mortgages,West Vancouver,North Vancouver,Downtown,Metro Vancouver,Lower Mainland, Yaletown,Coal Harbour,Equipment Leasing Calculator,Free Mortgage Calculators, Refinance Bad Credit,refinance with bad credit, bad credit mortgage refinance Vancouver,Mortgage Brokers Bad Credit BC, mortgage brokers bad credit, best mortgage rates, canada mortgages,canada mortgage,lowest rate, mortgages canada,lowest mortgage rates,canadian mortgages,canada mortgage rates,best canadian mortgages
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( Video Link: http://youtu.be/fROP17iUSEg )
VANCOUVER, BC (September 14, 2011) Clearlease Financial Reports A potential takeover battle for California toy company Jakks Pacific could help boost the value of Montreal-based rival Mega Brands as it tries to recover after a few difficult years, industry analysts said Wednesday Sept. 14, 2011.
Oaktree Capital Management has offered US$670 million to purchase Jakks Pacific (Nasdaq:JAKK). The US$20 per share bid represents a 25 per cent premium over its closing price on Tuesday and the average closing price in the last 24 months.
The offer prompted Jakks shares to soar by more than 22 per cent to US$19.56 in Wednesday trading on the Nasdaq exchange.
Applying the valuation of Jakks to Mega Brands (TSX:MB) would put its value at around C$12 per share, representing a potential 33 per cent upside on its current trading price, says Martin Landry of GMP Securities.
“In our view, Jakks Pacific represents a good comparable to Mega Brands,” Landry wrote in a report
“This activity highlights interest in the toy industry, which has undergone consolidation for several years,” .
But Garrick Johnson of BMO Capital Markets said Oaktree’s current offer would have little impact on his valuation of Mega Brands.
“If this offer goes higher, which it likely will, then it would indicate that Mega Brand might be worth a little bit more, but not at the current offer,” Johnson said in an interview.
Johnson said the private equity player sees value in Jakks’ cash flow and earnings and lack of debt.
The proposed takeover marks the second in the U.S. toy industry this year. Japan-based Tomy Company purchased RC2 Corporation.
Jakks responded to Oaktree’s interest on Wednesday by saying it will carefully consider the “conditional non-binding indication of interest” that is subject to the completion of financial and legal due diligence and financing.
Although the toy companies have some similarities, Jakks’s US$747 million in revenue last year was twice as high as the Canadian company’s.. Mega Brands hopes to return to $500 million of annual sales within a few years.
Should it become an acquisition target, Mega Brands would likely find possible suitors among big established toy industry players because of its portfolio, including pre-school construction toys, and the fact it too is “significantly undervalued,” Johnson added.
During its darkest period after a series of product recalls hammered its sales and profits, Mega Brands was thought to have been looked at by several potential buyers, including Jakks.
But its fortunes have been improving following a recapitalization, attraction of new licences and development of products.
Mega Brands has also hired two respected industry veterans: Drew Stevenson as head of North American sales and Tom Prichard as president of its stationery and activities business.
“I think things are looking better for them,” said Johnson.
Landry maintained his buy rating and target price on Mega Brands stock of C$11, which represents a potential upside of 22 per cent from current levels.
He said challenges such as construction toy competition from Hasbro, rising input costs and a mature industry have already been factored into the current share price.
However, licensing agreements for Halo, Need for Speed and others could boost revenues by 25 per cent or nearly C$100 million over three years.
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