A Barbie doll is seen at a store at Fiumicino Airport in Rome on March 28, 2024.
Jakub Porzycki Nurphoto Getty Images
Share from Mattel rose nearly 20% in Thursday after the Wall Street Journal reported that the toy maker had drawn interest from Authentic Brands Group.
Brand licensing companies have negotiated privately The offer could value Mattel at more than $20 per share, or about $6 billion, the Journal reported, citing people familiar with the matter. Mattel traded just above $15 per share on Friday afternoon.
people familiar with the discussion confirmed to CNBC that there were discussions, but cautioned that they were very preliminary. The person asked not to be named because the discussion was private. The source added that the move is a good fit as Authentic has an interest in entertainment properties, particularly those geared towards children.
“As a matter of company policy, we do not comment on market rumors or speculation,” a Mattel spokeswoman said.
Authentic declined to comment.
News of Authentic’s takeover interest follows Mattel’s announcement Wednesday that Condé Nast CEO Roger Lynch will take over as CEO The next CEO. Mattel shares closed down 4% on Wednesday.
Lynch, who has been a member of Mattel’s board since 2018, will begin as chairman on October 2 and as CEO on November 2. He will succeed Ynon Kreiz, who has been named co-CEO of Paramount and Warner Bros. Discovery.