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00:02A major Mattel shareholder urged the Barbie maker to explore a sale, saying the company's
00:06performance and profitability have stalled, according to Reuters.
00:09Aerial Investments, which holds a 5.4 percent stake, said Mattel remains undervalued and
00:14could attract a premium from a strategic buyer.
00:17The firm said options could include asset sales, a merger, or an outright sale.
00:21The push comes as Mattel prepares for a leadership transition, with Yanon Kryze stepping down
00:25and board member Roger Lynch set to become CEO next month.
00:29Mattel said its board and management will consider Aerial's views.
00:33The letter follows a similar call from Southeastern Asset Management in May, and a recent takeover
00:38approach from Authentic Brands Group that could value Mattel at around $6 billion or more.
00:43No formal sale process is underway.
00:45For all things money, visit Benzinga.com.
