Merger Deal Between Hasbro and Dreamworks Animation Reportedly Dead

It’s been widely reported that merger negotiations between Hasbro and DreamWorks Animation have been called off, due in part to the stock performance of Hasbro, as well as the high asking price by DreamWorks Animation CEO Jeffrey Katzenberg.

Hasbro reportedly ended conversations on Friday, for reasons that included a $30 share price asked for by Katzenberg. Some analysts deemed that price high. In addition, the possible merger had a negative effect on Hasbro’s stock–it fell on both Thursday and Friday–which is said to have concerned execs at the company.

The deal would have been worth at $2.3 billion, as reported by Variety.

By joining forces with DreamWorks Animation, Hasbro would have had the means of increasing its film and TV presence, while in theory, DreamWorks would have benefited from a more diverse revenue stream via Hasbro. DreamWorks’ properties include Shrek, Kung Fu Panda, and Madagascar. Hasbro, meanwhile, owns such toy brands as Transformers and G.I. Joe.

Dreamworks Animation Packs a Powerful Punch with Cast Additions for Kung Fu Panda 3

“Pandamonium” is back for a triple kick with a trio of new cast members in DreamWorks Animation SKG Inc.’s Kung Fu Panda 3, which will be distributed by 20th Century Fox. Bryan Cranston, Mads Mikkelsen, and Rebel Wilson join Jack Black, Angelina Jolie, and other original cast members in the third installment of the action-packed franchise.

The film, slated for December 23, 2015, marks the first planned co-production with China-based Oriental DreamWorks and follows Po, the chosen one, as he continues on his journey mastering the art of Kung Fu… and noodle slurping.