Authentic Brands Group reports potential $6 billion takeover of Mattel
The Wall Street Journal reported that Authentic Brands Group is privately discussing a takeover of Mattel that could value the toy maker at more than $6 billion, or over $20 per share. The news sent Mattel shares up sharply, with gains ranging from about 4% to more than 20% across the day. Mattel has named board member Roger Lynch as its incoming CEO, but no formal sale process is underway and the deal is not guaranteed.
Why it matters
The reported premium could lift Mattel’s market value well above its current $3.6 billion market cap, creating upside for shareholders if a transaction is completed (the company’s statement notes no guarantee of a deal). UBS reiterated its buy rating and $28 price target, indicating analyst support for the upside potential.
Key facts
- 1Mattel shares rose 4.4% on reports of takeover interest. investing.com
- 2The potential offer values Mattel at over $6 billion. investing.com
- 3The implied offer price is more than $20 per share, a premium of more than 58% to the prior close of $12.66. investing.com
- 4Mattel’s market capitalization is $3.6 billion. investing.com
- 5Roger Lynch was named successor CEO, effective no later than early November. investing.com
- 6No formal sale process is underway and no deal is guaranteed. tradingview.com
Summary written by AlphAI from 8 of 8 sources. Not investment advice. Figures are as stated by the linked sources.