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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.
·London, United Kingdom
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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. [...]
Coverage Details
Total News Sources12
Leaning Left1Leaning Right2Center2Last UpdatedBias Distribution40% Center, 40% Right
Bias Distribution
- 40% of the sources are Center, 40% of the sources lean Right
40% Right
L 20%
C 40%
R 40%
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