LVMH-backed (LVMUY) private equity firm L Catterton has approached Mattel (MAT) with a takeover offer, Reuters’ Anirban Sen reports, citing people familiar with the matter. The move could prompt other potential bidders to weigh offers for the toy company, including Hasbro (HAS), which is aware of the approach and weighing whether it should also submit a bid, the author says. Shares of Mattel are up 5.2% near noon.
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