Tomy buys RC2 for $640 million | Key4Communications | News

The Japan-based toy company Tomy has announced a deal to buy RC2 for $640 million. The goal of this operation is to increase Tomy's global profile, adding business in North America and Europe. The toy maker will buy RC2 shares for $27.90 each, a 30.9 premium the average closing stock price over the last three months. This offer should be closed by the second quarter of the year and is subject to the tender of a majority of the outstanding shares of RC2.

Tomy is Japan's number 2 toy company while RC2 is the maker of the Thomas & Friends and the Chuggington line toy products.