Hasbro Makes A Play For Cranium

In a market mostly plagued by recall news, Hasbro Inc. had some good news to share: The world's second- largest toy and game company entered into an agreement at the start of January to acquire privatelyheld Cranium Inc. and its wide range of Craniumbranded games and related products. "This acquisition is consistent with Hasbro's ongoing strategy to bring to market the most innovative toy and game brands in the world," says Brian Goldner, chief operating officer for Hasbro Inc. "Hasbro is in a unique position to maximize the long-term potential of the Cranium brand, with real opportunity for growth in international markets." Richard Tait, Cranium Inc. co-founder and Grand Poo Bah, adds, "The Cranium brand will benefit from the expertise and global presence of an industry leader, Hasbro, who is as passionate about games as we are. Hasbro will pay a base purchase price of $77.5 million, which may be adjusted based on Cranium's net assets on the closing date (expected during the 1st quarter of 2008).