Why Mattel Stock Rocketed Higher on Wednesday

Shares of Mattel (NASDAQ: MAT) charged sharply higher on Wednesday, surging as much as 13.4%. As of 10:32 a.m. ET, the stock was still up 10.2%.

The catalyst that sent the toymaker higher was a report that Mattel had held discussions with some high-profile firms about potentially going private.

Over the past several months, Mattel has held informal talks with several private equity bigwigs -- including Apollo Global Management and L Catterton, among others -- about potentially taking the company private, according to a report in The Wall Street Journal.

Source Fool.com