Hot Wheels, Barbie maker Mattel soars on report of Hasbro takeover offer

Hot Wheels displays the new Roto Revolution Track set at the New York Toy Fair on Feb. 17, 2017. (Diane Bondareff/AP Images for Mattel)

NEW YORK (AP) — Shares of Mattel soared in after-hours trading Friday after a report that rival Hasbro made a takeover offer for Mattel.

The Wall Street Journal, citing people familiar with the matter that it did not identify, said Hasbro approached Mattel recently about a deal. Both companies have had trouble selling their toys to today’s kids, many of whom would rather play with a tablet. Mattel’s toys include Barbie and Hot Wheels. Hasbro has My Little Pony and Monopoly.

A spokeswoman for Pawtucket, Rhode Island-based Hasbro said it does not comment on “rumors.” Mattel, based in El Segundo, California, did not immediately respond to a request for comment.

Shares of Mattel Inc. rose $3.09, or 21 percent, to $17.71 in extended trading. Hasbro Inc. shares rose $2.55, or 2.8 percent, to $94.