The head of US toy company MGA Entertainment says he has made a formal bid to acquire the Toys “R” Us stores in both Canada and the United States. In a release, Isaac Larian, the CEO of MGA Entertainment, said the bid is for $675 million US to buy the US stores and $215 million for the Canadian outlets. MGA said the funds for the purchase will come from Larian’s own coffers, additional investors and bank financing “The time is now,” Larian said. “Everyday that goes by, the value of Toys “R” Us declines and more people lose their jobs. I did my part and now it’s up to the other side to accept this offer.”
