Mattel shares rise after reports of takeover interest from Authentic Brands Group

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.