Authentic Brands Group has expressed takeover interest in Mattel, with preliminary discussions reportedly involving a potential offer of more than $20 per share. That would value the toymaker at approximately $6 billion and represent a significant premium to its recent closing price. Mattel shares rose as much as 23% on the news.
The discussions are private, and no formal sale process is underway. There is no certainty they will lead to a deal. Neither Mattel nor Authentic Brands Group has confirmed the negotiations.
The interest comes shortly after Mattel announced a leadership transition: CEO Ynon Kreiz is departing, and board member Roger Lynch is set to take over. The change could be a factor in the timing of the potential acquisition talks.