Authentic Brands Approaches Mattel for Takeover
Authentic Brands Group has approached Mattel with a takeover interest that could value the toy maker at around six billion dollars. Mattel shares surged following the news of the potential acquisition proposal.
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MATTEL INC received a takeover approach from Authentic Brands Group valuing the toymaker at $6B or more, a person familiar with the matter said on Thursday morning. The buyout interest could exceed $20 a share, representing a premium over the company's $3.62B market capitalization. The unsolicited approach arrives as Mattel navigates executive departures and broader retail headwinds across the United States.
