What moved the stock
Deal buzz lit up Mattel, sending the shares up close to 20% on Thursday. According to the Journal, Authentic Brands Group has held private talks about an offer that could put the toymaker's value north of $20 per share, implying around $6 billion. For context, the stock was trading just over $15 per share Thursday afternoon.
What sources said and company responses
A person familiar with the matter confirmed to CNBC that discussions are underway but emphasized they are at a very early stage. The same person, declining to be identified since the talks are private, also said the overture fits Authentic's focus on entertainment assets, especially those aimed at children. "As a matter of company policy, we do not comment on market rumors or speculation," a Mattel spokesperson said. Authentic offered no comment.
Leadership news and what it means for your wallet
The burst of chatter came after Mattel said Wednesday that Condé Nast CEO Roger Lynch is set to become the company's next chief executive by Nov. 2 and to step into the chairman position on Oct. 2. Lynch has been on Mattel's board since 2018. He will replace Ynon Kreiz, who was tapped to serve as co-CEO of Paramount and Warner Bros.
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Discovery. Mattel's shares closed down 4% on Wednesday after the leadership move. For everyday investors, the combo of buyout speculation and a CEO change can whip up extra volatility in a household-name brand, where headlines alone can nudge prices around.
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