UPDATE: Mattel shares skyrocket more than 20% on report of Hasbro takeover interest
Mattel Inc. (MAT) shares soared more than 20% in the extended session Friday following a report that Hasbro Inc. (HAS) was looking to take over the rival toymaker. Mattel shares rallied 21% to $17.75 after hours on heavy volume following a report from The Wall Street Journal (https://www.wsj.com/articles/hasbro-makes-takeover-approach-to-mattel-1510351281) that Hasbro made an offer for Mattel, according to sources close to the matter. Shares of Hasbro rose 3.6% to $94.70 after hours. In Friday's regular session, shares of Mattel closed up 5% at $14.62 for a market cap of $5.03 billion, and shares of Hasbro finished up 3.1% at $91.45 for a cap of $11.39 billion.
-Wallace Witkowski; 415-439-6400; AskNewswires@dowjones.com
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11-10-17 1745ETCopyright (c) 2017 Dow Jones & Company, Inc.