DreamWorks Animation Shares Are Exploding Higher

Shrek and donkey
DreamWorks Animation’s ‘Shrek’ DreamWorks Animation

Last night, Deadline and the New York Times reported that Hasbro is in talks with DreamWorks Animation to acquire the company.

In pre-market on Thursday, shares of DreamWorks were up as much as 20% following the news.

In a report late Wednesday, Deadline said that DreamWorks CEO Jeffrey Katzenberg is seeking a deal that values the company at about $US35 per share, a more than 50% increase from the $US22.37 that DreamWorks shares closed at on Wednesday.

On Thursday morning, DreamWorks shares were trading just below $US27. Hasbro shares, meanwhile, were down about 2%.

The latest reports regarding a potential deal with Hasbro follow reports in late September that said Japanese conglomerate SoftBank was looking to acquire DreamWorks Animation, though those talks eventually broke down.