杰富瑞的分析师认为,孩之宝对全盘收购美泰公司兴趣寥寥,其理由在于运营的复杂性以及后者以儿童为中心的知识产权。此番分析是在维权投资者Southeastern Asset Management呼吁美泰向私募股权公司、竞争性玩具企业或大型媒体集团出售之后提出的。Southeastern曾表示,对于美泰而言,竞争对手是最合乎逻辑的买家,并认为鉴于孩之宝在执行数字增长战略方面比美泰表现更佳,且双方可能产生实质性的协同效应,与孩之宝达成交易看起来是可能的。
然而,分析师们指出,他们认为美泰旗下某些品牌更适合采用对外授权或建立合作伙伴关系的模式,而非直接剥离。这种方式将使公司能够保留其长期的知识产权价值,同时提升资本效率。
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