Scrabble bidders squabbling

The scramble for Scrabble took a new twist yesterday as the two companies seeking to acquire J. W. Spear and Sons PLC charged each other with breaking takeover rules.

U.S. toymaker Hasbro Inc. claimed Spear's trustees are legally bound to sell it their 24.7 percent stake in the company, which has the rights to sell the Scrabble board game anywhere outside the United States and Canada.

But the Spear board, apparently swayed by a higher offer by Hasbro's larger U.S. rival Mattel Inc., countered that it has received "professional advice" that trustees can accept either offer.