UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): August 2, 2007
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HASBRO, INC.
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(Exact name of registrant as specified in its charter)
RHODE ISLAND 1-6682 05-0155090
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(State of (Commission (IRS Employer
Incorporation) File Number) Identification No.)
1027 NEWPORT AVE., PAWTUCKET, RHODE ISLAND 02862
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(Address of Principal Executive Offices) (Zip Code)
(401) 431-8697
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(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events
On August 2, 2007 Hasbro, Inc. (the "Company") issued a press release
announcing that the Company's Board of Directors (the "Board") had authorized
the repurchase of up to an additional $500 million of the Company's common
stock, par value $.50 per share (the "Common Stock"). The press release is
furnished as an exhibit to this Current Report on Form 8-K and is incorporated
herein.
The Company's Board had authorized the repurchase of up to $350 million of
the Company's Common Stock in May of 2005, with utilization of this full
repurchase amount having been completed in July 2006. In July 2006 the Board
authorized the repurchase of an additional $350 million of the Company's Common
Stock. As of August 2, 2007 only $7.9 million remained available under this
July 2006 authorization, which amount remains available in addition to the $500
million repurchase authorization approved today.
These shares may be purchased in the open market or through privately
negotiated transactions. The Company has no obligation to repurchase shares
under the authorization, and the timing, actual number and value of shares
which are repurchased will depend on a number of factors, including the price
of the Company's Common Stock. The Company may suspend or discontinue its
repurchase program at any time.
Item 9.01 Financial Statements and Exhibits
(c) Exhibits
99 Press Release, dated August 2, 2007, of Hasbro, Inc.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
HASBRO, INC.
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(Registrant)
Date: August 2, 2007 By: /s/ David D.R. Hargreaves
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David D. R. Hargreaves
Executive Vice President,
Finance and Global
Operations and
Chief Financial Officer
(Duly Authorized Officer and
Principal Financial Officer)
Hasbro, Inc.
Current Report on Form 8-K
Dated August 2, 2007
Exhibit Index
Exhibit
No.
99 Press Release, Dated August 2, 2007, of Hasbro, Inc.
Exhibit 99
For Immediate Release | Contact: | |
August 2, 2007 | Karen A. Warren (Investor Relations) | 401-727-5401 |
| Wayne S. Charness (News Media) | 401-727-5983 |
HASBRO, INC. ANNOUNCES ADDITIONAL $500 MILLION
SHARE REPURCHASE AUTHORIZATION
Pawtucket, R.I. (August 2, 2007) -- Hasbro, Inc. (NYSE:HAS) announced that its Board of Directors has authorized the Company to repurchase an additional $500 million in common stock. Repurchases of the Company’s common stock may be made from time to time, subject to market conditions. These shares may be purchased in the open market or through privately negotiated transactions. Hasbro has no obligation to repurchase shares under the authorization, and the timing, actual number and value of shares which are repurchased will depend on a number of factors, including the price of the Company’s common stock. The Company may suspend or discontinue the repurchase program at any time.
“This program reflects the continuing commitment of the Board of Directors and Hasbro management to pursue opportunities that create value for our shareholders,” said Alfred J. Verrecchia, President and Chief Executive Officer.
The Company announced a $350 million share repurchase authorization in May 2005, which was completed in July 2006. In July 2006, the Company announced an additional $350 million authorization. Since May 2005, the Company has spent $692.1 million to repurchase 31,653,000 shares (not including $200 million recently spent to retire the Lucas warrants for 15,750,000 shares) and has only $7.9 million remaining in the July 2006 authorization.
Hasbro is a worldwide leader in children's and family leisure time entertainment products and services, including the design, manufacture and marketing of games and toys ranging from traditional to high-tech. Both internationally and in the U.S., its PLAYSKOOL, TONKA, MILTON BRADLEY, PARKER BROTHERS, TIGER, and WIZARDS OF THE COAST brands and products provide the highest quality and most recognizable play experiences in the world.
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