Investor Blasts Hasbro Over Mattel Bid

Hasbro Inc. came under fierce attack Thursday from one of Wall Street’s most influential investors, who said the toy maker should accept Mattel Inc.’s $5.2-billion acquisition offer.

“We are incredibly in support of the Mattel offer,” said Michael Price, president of New Jersey-based Mutual Shares Corp.

Hasbro Chairman Alan Hassenfeld “has 9% of the stock and he’s stopping 91% of the stock from having a payday,” Price said. “It’s the most outrageous action on the part of a CEO that I have ever seen.”

Hasbro has rejected the Mattel offer, contending it would raise antitrust problems. The toy maker declined to comment on Price’s statements.

Price, widely credited with pressuring Chase Manhattan Corp. to merge with Chemical Banking Corp., would not disclose how much Hasbro stock he owns, but said it is “well into the seven figures.”