Confirmed in the 4/2/07 edition of the L.A. Times: "Toy giant Mattel Corp. seeks to acquire major shareholdings of competitor RC2 Corp." This announcement came shortly after senior executives at RC2 divulged that earnings for the last three consecutive quarters have fallen drastically. RC2 shares plummeted to a meager $4.44 per share on the NYSE at the close of business on Friday, March 30, 2007. Dan Conway, senior executive with RC2 commented, "It is a dark period for our company now that a major competitor has positioned itself as a major shareholder." No word yet from Mattel regarding any sort of takeover strategy but it is likely that operations will eventually come under control of Mattel. Mattel produces such well known toys such as Barbie, Easy Bake Oven and Hot Wheels, to name a few. At this point it is mere speculation as to the future of the variety of products currently produced by RC2. RC2 owns branded names such as Johnny Lightning, Ertl, Learning Curve and others. Economic forecasters are predicting a slight increase in Mattel shares as a result of the announcement. Mattel shares closed last Friday at 38.75.