SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES AND EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): February 9, 1998
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HASBRO, INC.
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(Name of Registrant)
RHODE ISLAND 1-6682 05-0155090
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(State of (Commission (IRS Employer
Incorporation) File Number) Identification No.)
1027 NEWPORT AVE., PAWTUCKET, RHODE ISLAND 02861
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(Address of Principal Executive Offices) (Zip Code)
(401) 431-8697
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(Registrant's Telephone Number)
Item 5. Other Events
The February 9, 1998 Press Release of the Registrant attached
hereto as EXHIBIT 99 is incorporated herein by reference.
Item 7(c) Exhibits
99 Press Release, dated February 9, 1998, of Hasbro, Inc.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
HASBRO, INC.
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(Registrant)
Date: February 9, 1998 By: /s/ John T. O'Neill
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John T. O'Neill
Executive Vice President and
Chief Financial Officer
(Duly Authorized Officer and
Principal Financial Officer)
HASBRO, INC.
Current Report on Form 8-K
Dated February 9, 1998
Exhibit Index
Exhibit
No. Exhibits
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99 Press Release dated February 9, 1998
EXHIBIT 99
For Immediate Release Contact: Hasbro
February 9, 1998 News Media Wayne Charness
401-727-5983
Investor Relations Renita E. O'Connell
401-727-5401
Tiger Scott J. Forester
847-913-8100
HASBRO ACQUIRES TIGER ELECTRONICS
New York, NY, February 9, 1998 -- Hasbro, Inc. (HAS:ASE) and Tiger
Electronics, Inc. announced today that they have entered into a definitive
agreement for Hasbro to acquire the operating assets of Tiger and its
affiliates. Tiger, based in Vernon Hills, Illinois, is a leader in the
development and distribution of electronic entertainment, including hand-held
games, toys and learning aids.
Privately held Tiger was founded in 1979 by its current President and
CEO, Randy Rissman and Senior Executive Vice President, Roger Shiffman. Some
of Tiger's top sellers include TV and Family games, Brain and Action games
such as Brain Warp, Puzzle games like Lites Out, as well as Giga Pets,
Game.Com, and Laser Tag.
The purchase price is approximately $335 million, subject to certain
closing adjustments, plus the value at closing of inventory, tooling,
equipment and certain prepaid assets. The companies reported that the Hart
Scott Rodino Anti-Trust Improvement Act waiting period has expired, and the
transaction should be completed early in the second quarter.
"Tiger brings Hasbro a rich portfolio of brands and expertise in an area
that has great growth potential for us, particularly as electronic
entertainment technologies converge," said Alan G. Hassenfeld, Chairman and
Chief Executive Officer of Hasbro, Inc. "The combination of Hasbro's and
Tiger's product development know-how, together with our global brands and
international marketing strength, make for an exciting match. We are also
particularly pleased that Randy and Roger will continue to operate the
company."
"The sale of Tiger to Hasbro allows us to accelerate the growth of our
products on a global basis, while expanding the opportunities for our
dedicated employees," said Randy Rissman, Tiger's Chief Executive Officer.
"We are proud to become part of the Hasbro family of companies and look
forward to helping them become the market leader in electronic toys and
electronic games."
Hasbro is a worldwide leader in the design, manufacture and marketing of
toys, games, interactive software, puzzles and infant care products. Both
internationally and in the U.S., its Playskool(R), Kenner(R), Tonka(R),
OddzOn(R), Super Soaker(R), Milton Bradley(R), Parker Brothers(R), and Hasbro
Interactive(TM) products, provide children and families with the highest
quality and most recognizable toys and games in the world.
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