Mattel rejects merger overture from Bratz dolls maker

Sorry, Bratz — Barbie doesn’t want to be BFFs.

In a bizarre back-and-forth, Barbie maker Mattel recently rebuffed an invitation to merge from MGA Entertainment, the owner of Bratz dolls, according to written correspondence obtained by The Post.

“Are you a grandpa yet?” MGA chairman Isaac Larian began in an April 25 letter to Mattel chairman Christopher Sinclair. “My grandson was born on March 12 and it’s the best feeling.”

But Larian — who has been locked in more than a decade of litigation with Mattel over the rights to the Bratz brand — quickly changed his tone. Mattel shares have lately lost half their value, Larian noted. MGA, which also makes Little Tikes and LOL Surprise, made more money than Mattel did last year, Larian said.

“Ynon is a good guy,” Larian said of Ynon Kreiz, who succeeded Margo Georgiadis as Mattel CEO last month. “But he doesn’t know toys and will fail like Margo did.”

“It’s not too late,” Larian added. “We will put a value on MGA and its brands and its legal claims against Mattel. Based on this, we will merge. I will be the CEO and Chairman of Mattel and turn it around.”

In a terse written response on Thursday, also reviewed by The Post, Mattel’s Sinclair didn’t mention grandchildren.

The Barbie maker’s board “unanimously concluded that this proposal is not in the best interests of Mattel and its shareholders,” Sinclair wrote. “Mattel is not interested in further discussing this matter with you.”

Larian, who was traveling to Tokyo on Friday, described Mattel’s response as “arrogant” and threatened to take the matter to the El Segundo, Calif.-based company’s investors.

A Mattel shareholder himself, Larian insists that Mattel’s “share price would double overnight” under his leadership.

In recent weeks, Larian has also tried unsuccessfully to buy the Toys ‘R’ Us chain out of bankruptcy.