Mattel Inc. (MAT) shares rose more than 3% on Wednesday after a report said rival toy maker Zuru is considering a takeover bid. The Australian reported that Hong Kong-based Zuru has met with investment bankers over the past few weeks to explore a potential offer for the Barbie maker.
The report adds to recent takeover interest in Mattel. Last week, reports said Authentic Brands Group had also approached the company about a potential deal. Major shareholder Ariel Investments has recently urged Mattel to consider a sale or other strategic alternatives.