The brand licensing firm has held private discussions regarding an offer exceeding $20 per share, significantly higher than the stock's Thursday afternoon trading price of roughly $15. While sources confirmed these preliminary talks to CNBC, both companies have remained publicly silent, with a Mattel spokesperson citing a policy against addressing market speculation.
This interest surfaces amid a period of executive flux for the toymaker. On Wednesday, Mattel revealed that Condé Nast CEO Roger Lynch will replace Ynon Kreiz as the company's leader. Lynch, a board member since 2018, is set to assume the chairman role on October 2 and the CEO position by November 2. Kreiz intends to step down to pursue a co-CEO role at a new venture involving Paramount and Warner Bros. Discovery.
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