Mattel attracts takeover interest from Authentic Brands Group, the Wall Street Journal reports
Mattel shares rose nearly 20% after reports said Authentic Brands discussed a takeover offer worth more than $6 billion.
- On Thursday, Authentic Brands Group discussed a bid for Mattel valued at around $6 billion, or more than $20 per share, sending shares up nearly 20%.
- This news follows Mattel's Wednesday announcement that Cond Nast CEO Roger Lynch will become its next CEO, succeeding Ynon Kreiz, who is joining Paramount and Warner Bros and Discovery.
- Sources confirmed to CNBC that preliminary discussions regarding a potential takeover are underway, with Authentic maintaining interest in entertainment properties tailored to children.
- A Mattel spokesperson said, "As a matter of company policy, we do not comment on market rumors or speculation," while sources cautioned discussions are "very preliminary."
- Mattel traded just above $15 per share on Thursday afternoon, after shares closed down 4% on Wednesday following the Lynch announcement.
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Mattel attracts takeover interest from Authentic Brands Group, WSJ reports
Mattel has been approached by Authentic Brands Group for a takeover offer that could value the Barbie maker at around $6 billion or more, the Wall Street Journal reported on Thursday, citing people familiar with the matter.
Illustrative image Photo: PexelsAuthentic Brands makes initial approach by Mattel and studies offer of US$20 per action
Authentic Brands is interested in buying Mattel, said the Wall Street Journal. A house of brands has already made a first approach with the toy manufacturer and studies an offer of at least $20 per share, which would evaluate Barbie's owner and Hot Wheels in more than $6 billion. [...]
NEW YORK (ANP) - Toy company Mattel was among the winners on the New York stock exchanges on Thursday, following a report that there was interest in a possible takeover of the Barbie maker. Mattel recently attracted the interest of Authentic Brands Group, reported the Wall Street Journal...
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