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Bratz maker gives up on Toys R Us

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The billionaire behind Bratz dolls yesterday said he will no longer pursue a purchase of Toys R Us.

Isaac Larian, CEO of MGA Entertainment, placed a $675 million bid in April that was rejected by Toys R Us.

"I am most disheartened that the legacy of the retailer will be lost for future generations," Larian said in a statement provided to CNNMoney.

He added that he wasn't able to reach a deal with the company's lenders.

Read more from CNNMoney.

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