Toymaker Hasbro Reportedly In Talks To Buy DreamWorks Animation

(RTTNews) - Toymaker Hasbro Inc. (HAS) is reportedly in talks to buy Jeffrey Katzenberg's animation studio DreamWorks Animation SKG Inc. (DWA), maker of the "Shrek" films.

Dreamworks, with a market value of around $1.9 billion, is said to be seeking over $30 per share, which would mark at least a 34 percent premium to the company's closing price of $22.37 on Wednesday.

Hasbro already has a 40 percent stake in the Discovery Family Channel, and the deal would strengthen its involvement in film and TV.

Reports had emerged in early September that Japanese telecom company Softbank Corp. (SFTBF.PK) was in talks to acquire DreamWorks. At that time, Softbank was said to have made a $3.4 billion offer that valued DreamWorks at $32 per share. However, by the end of the month it was reported that the talks between the two had cooled.

HAS closed up 1.4 percent on Wednesday at $57.47, while DWA rose 1.5 percent to $22.37 before losing 2.2 percent in the extended trade.