The maker of the iconic Barbie brand Mattel (MAT.US) is gaining nearly 17% today after news of a potential acquisition bid. Reuters reports that private equity fund L Catterton has made an offer to acquire the toy maker. The reports further remain speculation, and details of the bid remain undisclosed for now. L Catterton is a fund backed by one of Europe's largest companies, LVMH (MC.FR).
Reports of a potential takeover bid have started speculation about Hasbro (HAS.US) considering making a bid as well. A merger with Mattel would give the company the opportunity for strong growth and expansion in the toy manufacturer market. It is worth noting that if these reports are confirmed, this would not be the first attempt to merge the two companies. Over the years, Hasbro and Mattel have already tried to reach an agreement on a possible merger, but these attempts were never finalized.
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On the back of a wave of media reports, Mattel is gaining nearly 17% today and is trading at its highest price level since April. Source: xStation
