Mattel shares jump on takeover interest report

Mattel shares rose 20.6 percent Thursday after the Wall Street Journal reported that Authentic Brands Group had approached the toymaker about a possible takeover.

The newspaper, citing people familiar with the matter, reported that privately held Authentic Brands had been privately discussing an offer valuing Mattel at more than $20 a share, or around $6 billion or more.

Mattel shares were up 20.6 percent at $15.27 near 1920 GMT.

Mattel's brands include Barbie, Fisher-Price, Hot Wheels and Thomas & Friends. The company announced Wednesday that Roger Lynch, chief executive of Conde Nast and a Mattel board member, would become chief executive from October 2.

Current Mattel chief Ynon Kreiz is stepping down to serve as co-chief executive of Paramount Skydance from October 5, according to a Paramount announcement.

Neither Mattel nor Authentic immediately responded to requests for comment.