Mattel ( NASDAQ: MAT ) quickly soared 16% after a report that private equity firm L Catterton approached the toy maker with a takeover offer. The move may push competitor Hasbro ( HAS ) to make its own offer, according to a Reuters report on Monday, which cited people familiar with the matter. Hasbro is discussing whether it will make a bid.
Hasbro and Mattel have had unsuccessful deal talks over the years. Hasbro rose 2.3% on Monday.
L Catterton is the PE shop backed by luxury goods powerhouse LVMH ( OTCPK:LVMHF ). Mattel ( MAT ) has a market cap of $5.6 billion, while Hasbro is valued at $8.
2 billion. Mattel, L Catterton and Hasbro didn't immediately respond to Reuters requests for comment. Developing story .
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