(Reuters) – U.S. toymaker Hasbro Inc (O:) has made a takeover approach for rival Mattel Inc (O:), the Wall Street Journal reported on Friday, citing people familiar with the matter. Shares of Mattel, the maker of Barbie and Hot Wheels, jumped about 24 percent in after-hours trading. Hasbro has a value of about $11 billion after a near 18 percent increase in its stock price in 2017. Hasbro had approached Mattel at least twice before, first in 1996 and then again sometime in late 2015, according to media reports. Mattel has not been the only target of Hasbro, which is trying to diversify its revenue stream.

Source: Wall Street Journal November 11, 2017 14:26 UTC