00:00It's Benzinga bringing Wall Street to Main Street!
00:02Mattel shares rose nearly 20 percent Thursday after the Wall Street Journal reported that
00:06the toy maker has attracted takeover interest from Authentic Brands Group, according to
00:11CNBC.
00:11The brand licensing company has privately discussed an offer that could value Mattel
00:15at more than $20 per share, or about $6 billion, according to the report.
00:20Mattel traded just above $15 Thursday afternoon.
00:23A person familiar with the talks confirmed to CNBC that discussions are underway but
00:27cautioned they remain very preliminary.
00:29The source said Authentic's interest makes sense given its focus on entertainment properties,
00:34particularly those aimed at children.
00:35The report comes one day after Mattel announced that Conde Nast CEO Roger Lynch will become
00:41its next CEO.
00:42Lynch, a Mattel board member since 2018, will succeed Yinan Kreiz, who has been named co-CEO
00:48of Paramount and Warner Brothers Discovery.
00:50For all things money, visit Benzinga.com.
