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DreamWorks Animation Shares Are Exploding Higher

Myles UdlandNov 13, 2014, 19:20 IST

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 $35 per share, a more than 50% increase from the $22.37 that DreamWorks shares closed at on Wednesday.

On Thursday morning, DreamWorks shares were trading just below $27. 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.