Shares of toy magnate Mattel (NASDAQ: MAT) inched 1.9% higher through noon ET on Monday, and the reason appears to be a rumor... grounded in fact.

It's a rumor that concerns potential mergers and acquisitions (M&A) activity going on behind the scenes at Mattel -- and a filing with the Securities and Exchange Commission (SEC) that may support it.

Citing M website Dealreporter, The Fly reports today that Mattel made a "curious filing" with the SEC after close of trading on Friday, which "reveals some bylaw changes, updating procedural and disclosure requirements for director nominations..." and is raising suspicions that "something may be happening behind the scenes."  

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Source Fool.com