Canadian toymaker Mega Brands Brands Inc. on Friday said that its acquisition by Mattel Inc. had been approved by Canadian regulatory courts and was expected to be completed next week.
El Segundo-based Mattel Inc. announced the $460 million acquisition in late February. Montreal-based Mega is known for its children’s building blocks, construction sets and other arts and craft toys. The deal was seen as a way for Mattel to expand in a segment now dominated by Danish building toy giant Lego Group.
Mattel shares closed up 31 cents, or 1 percent, to $37.99 cents on the Nasdaq.