Mattel shares skyrocket more than 20% on report of Hasbro takeover interest


Mattel Inc.

MAT, +4.95%

shares soared more than 20% in the extended session Friday following a report that Hasbro Inc.

HAS, +3.11%

was looking to take over the rival toymaker. Mattel shares rallied 21% to $17.75 after hours on heavy volume following a report from The Wall Street Journal that Hasbro made an offer for Mattel, according to sources close to the matter. Shares of Hasbro rose 3.6% to $94.70 after hours. In Friday’s regular session, shares of Mattel closed up 5% at $14.62 for a market cap of $5.03 billion, and shares of Hasbro finished up 3.1% at $91.45 for a cap of $11.39 billion.