Mattel shares rise on report of takeover interest from Authentic Brands Group

Shares of Mattel rose Thursday after the Wall Street Journal reported that Authentic Brands Group had expressed interest in acquiring the toy company, according to CNBC.

Authentic Brands Group, known for owning and licensing a wide portfolio of consumer and entertainment brands, was reported to be exploring a potential deal, though the report did not indicate that a formal offer had been made or that negotiations were at an advanced stage.

Mattel, the maker of Barbie and Hot Wheels among other toy lines, has seen its stock fluctuate in recent years amid broader questions about the toy industry's growth prospects and the company's efforts to diversify into entertainment and content licensing tied to its brands.

A combination with Authentic Brands Group would mark a significant shift in ownership for one of the toy industry's most recognizable companies, though CNBC's report stressed that the interest described by the Journal does not guarantee a transaction will occur.

Neither Mattel nor Authentic Brands Group had issued a public confirmation of the reported interest at the time of publication.