Authentic Brands Group in Talks to Acquire Mattel in Deal Valued Around $6 Billion

Authentic Brands Group has drawn takeover interest in Mattel, the maker of Barbie and Hot Wheels, with reports putting the potential deal at roughly $6 billion, according to the Wall Street Journal. The approach comes just one day after Mattel named a new chief executive, a leadership change that sent the toy maker's shares down 4% on Wednesday.

News of the takeover interest sharply reversed Mattel's recent stock slide, with shares jumping on Thursday after the WSJ report was published. Authentic Brands Group is a brand management and licensing company with a portfolio that spans consumer, entertainment and sports names, making Mattel's portfolio of iconic toy brands a potential strategic fit.