
AI-generated summary
Mattel announced on Wednesday that Condé Nast CEO Roger Lynch would become its next CEO, causing shares to close down 4% that day.
Shares of Mattel rose nearly 20% on Thursday after the Wall Street Journal reported that the toymaker had attracted takeover interest from Authentic Brands Group.
The brand licensing company has privately discussed an offer that could value Mattel at more than $20 per share, or around $6 billion or more, the Journal reported, citing people familiar with the matter. Mattel traded just above $15 per share on Thursday afternoon.
A person familiar with the talks confirmed to CNBC that there are discussions, but cautioned that they are very preliminary. The source added that the overture makes sense because Authentic has interest in entertainment properties, particularly those tailored to kids.
"As a matter of company policy, we do not comment on market rumors or speculation," a Mattel spokesperson said.
Authentic declined to comment.
This news follows Mattel's Wednesday announcement that Condé Nast CEO Roger Lynch will take over as its next CEO. After that news, shares of Mattel closed down 4% on Wednesday.
AI outlook — possibilities, not facts
Mattel's board will evaluate the takeover offer from Authentic Brands Group
Likely · Within weeks
Roger Lynch will officially assume the role of Mattel CEO following the announced transition
Very likely · Within weeks

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