COMPANIES
From Times Staff and Wire Reports
Mattel Backs Off on Fisher-Price: California-based Mattel Inc., the nation’s No. 2 toy maker, agreed not to pursue a hostile takeover of Fisher-Price until July, 1992, even though Mattel has long been interested in acquiring the maker of toys for preschoolers. Mattel and Fisher-Price’s owner, Quaker Oats Co., signed an agreement in February that gives Mattel access to Fisher-Price’s books in return for a promise not to mount a hostile takeover bid for 18 months. Quaker Oats plans to spin off Fisher-Price this week by distributing the toy maker’s stock to Quaker Oats shareholders. A Mattel spokesman declined comment on a possible takeover of Fisher-Price. Fisher-Price officials were unavailable for comment.
