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Double post! Sorry!

Also, keep in mind that with owning stock, that entitles you to voting rights. Every share of stock is one vote.

By buying back stock, Hasbro is reducing the number of votes out there as well.

Given the rumors about Disney acquiring them, this is an important thing to look at. In order for Hasbro to sell themselves to Disney, they would need stockholder approval. It's much easier to reach a voting majority with fewer votes available.

Additionally, if/when a buyout would occur, Disney would need to buy all outstanding shares of Hasbro or offer to trade stockholders Hasbro stock into Disney stock. With less stock out there, it costs Disney less in the buyout and makes the transition much easier should it occur.