Mattel Faces Pressure from Major Shareholder to Consider Sale
MAT Mattel Inc
$16.05 +5.11%
View chart & analysis → - 1Ariel Investments sent a letter to the Mattel board suggesting the company should consider a sale to a suitable buyer.
- 2Mattel has experienced sluggish sales, with its stock price falling 19% since the beginning of this year.
- 3Mattel's stock price rose 20% following news of a potential acquisition offer from Authentic Brands Group valued at approximately $6 billion.
So what's the key point?
A major shareholder requested that Mattel be sold to another company. The stock price rose 20% on news that the company might be sold.
Source The Wall Street Journal +1 · View original ↗
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