Authentic Brands Group Discusses $6 Billion Mattel Takeover
Authentic Brands Group held private discussions to acquire Mattel for $6 billion or more following the announcement that CEO Ynon Kreiz will step down.
Private discussions are underway regarding a potential takeover of Authentic Brands Group's target, Mattel. The proposed offer could value the toy manufacturer at $6 billion or more, representing a price of over $20 per share. This valuation significantly exceeds Mattel's current market capitalization of approximately $3.62 billion.
The reports of acquisition interest surfaced shortly after Mattel announced that its top executive, Ynon Kreiz, would step down from his role. Following the news of the potential takeover, Mattel shares rose approximately 4% in afternoon trading.
Neither Mattel nor Authentic Brands Group has responded to requests for comment regarding the discussions.
