Mattel Surges 25% on $6B+ Takeover Talks, Best Day Since 1996
MAT sits 21% above its 52-week low of $12.4 on elevated volume (7.3× avg).
Summary
Mattel shares jumped about 25% on Thursday after reports that Authentic Brands Group is in talks to acquire the company for over $20 per share, valuing it at around $6 billion or more. The stock traded near $15.80, up from Wednesday's close of $12.66, putting it on track for its biggest one-day gain since 1996. This follows the earlier Dow Jones report of the takeover approach, but the market's reaction and the implied valuation are new information. The deal would represent a 58% premium to Wednesday's close, reflecting significant strategic interest in the Barbie maker. Traders will watch for confirmation of the talks and any formal offer.
At the time of this announcement, MAT was trading at $15.00 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $4.3B. 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 8 out of 10. Source: Benzinga.