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Longacre Square Partners handles media for Alta Fox Capital Management, which is pressing Hasbro Inc. to spin off its fast-growth gaming unit to bolster its stock price.
Fort Worth-based Alta Fox, owner of a 2.5 percent Hasbro stake, has nominated five members to the toy company’s board of directors.
Alta Fox claims Hasbro can simplify and improve its corporate structure by spinning out the Wizards of the Coast segment, which it calls “a hidden gem” with a completely different growth, margin and valuation profile than the consumer products and entertainment units.
The Wizards of the Coast and gaming division chalked up 42 percent revenue growth in 2021, compared to Hasbro’s 17 percent jump in total sales.
Hasbro, which is represented by Brunswick Group, claims it is on the right path to deliver sustainable growth for shareholders.
It notes that Chris Cocks, who is president/COO of the Wizards of the Coast and digital gaming division, becomes corporate CEO on Feb. 25.
Hasbro expects Cocks’ ability to create and nurture brands will accelerate corporate growth.
Longacre’s Greg Marose and Charlotte Kiaie represent Alta Fox.
Brunswick’s Nik Deogun handles Hasbro.
Jenn Kettnich, who has more than 15 years of financial communications experience, has joined Liftoff Mobile as VP-investor relations following completion of its recent IPO.
Joele Frank handles Crinetics Pharmaceuticals as the specialist for treatments for endocrine diseases agrees to get acquired by Vertex Pharmaceuticals in a deal pegged at $8.8B.
Teneo represents Honeywell spin-off Solstice Advanced Materials as it buys Collected Strategies client Element Solutions in a deal pegged at $14.5B.
Dallas-based Throughline Global Advisors advised Principal Mineral as it acquired Isola Group, maker of copper-clad laminates used in printed circuit boards.
oele Frank works for satellite operator Iridium Communications as it gets acquired by space company Rocket Lab in a deal worth $8B.
