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Mattel shares surge nearly 20% after reports of takeover interest from Authentic Brands Group
Shares of toymaker Mattel rose nearly 20% on Thursday after the Wall Street Journal reported that brand licensing company Authentic Brands Group (ABG) had expressed interest in acquiring Mattel. ABG has privately discussed an offer that could value Mattel at more than $20 per share, or around $6 billion or more. Sources familiar with the talks confirmed discussions are very preliminary. Mattel declined to comment on market rumors, and ABG also declined to comment. This news follows Mattel's Wednesday announcement that Condé Nast CEO Roger Lynch will take over as its next CEO, which had previously caused shares to close down 4%.
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