Authentic Brands Approaches Mattel With $20+/Share Takeover Interest
MAT is trading near its 52-week low of $12.4 (6.6% above the low).
Summary
Authentic Brands Group has approached Mattel about a potential acquisition, discussing an offer above $20 per share, implying a valuation of roughly $6 billion or more. The stock jumped 4.4% to $13.22 on the WSJ report, recovering from a 4% decline the prior day. No formal sale process is underway, and a deal may not materialize; another suitor could emerge. The approach comes just a day after Mattel named Roger Lynch as CEO, a transition that could complicate negotiations. This is a significant development for a company with a market cap near $3.8 billion, as the reported offer represents a substantial premium.
At the time of this announcement, MAT was trading at $13.22 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $3.8B. The 52-week trading range was $12.40 to $22.48. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.