Mattel attracts takeover interest from Authentic Brands Group, source says

Mattel has attracted takeover interest from Authentic Brands Group, according to a source familiar with the matter. The proposed deal, which could value the Barbie maker at around US$6 billion or more, would pay more than US$20 a share. Shares of Mattel, currently valued at approximately US$3.62 billion, surged nearly 18% to US$15.04 following the announcement, which was first reported by the Wall Street Journal.

However, there is no guarantee that Mattel will entertain the offer, and no formal sale process is currently underway. Mattel CEO Ynon Kreiz will depart the company by the end of November 2026 to become co-CEO at Paramount Skydance. He will be succeeded by Roger Lynch, former CEO of Conde Nast. Lynch's transition may complicate any potential deal for Mattel.

The consumer goods industry is currently facing challenges due to weak consumer spending, higher fuel costs, and rising interest rates in the US. In 2026, Mattel has struggled with tariff-related costs, despite continuing its efforts to build an entertainment portfolio around its successful brands, following the 2023 Barbie movie's success.

Its shares have declined by 33% so far this year. In May, Mattel's investor Southeastern Asset Management urged Kreiz to consider options such as going private or being acquired by rivals Hasbro or a major media company, believing that Mattel's intellectual property assets would be valued more by a large corporation than by the public market.

Authentic Brands has expanded its portfolio through the acquisition of Dockers from Levi Strauss, and is focusing its M&A strategy on acquiring kids entertainment brands and hospitality businesses.