If a deal were reached, it would create a huge powerhouse in the toy industry, uniting Monopoly, Nerf and My Little Pony brands from Hasbro with Mattel's Hot Wheels and iconic Barbie.
Talks that the two may join forces has been long rumored, as Mattel's stock has fallen a significant 52 percent over the past year, leaving its market value at $5 billion.
The WSJ's sources say that the deal was made recently, didn't disclose terms, and that it might not go anywhere.
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A new report claims that Hasbro Inc. has made a takeover offer for its rival, Mattel Inc., although details surrounding the offer are now unknown. Both toymakers have struggled in recent years to maintain relevancy in an increasingly digital world, combating consumer trends by injecting more and more technology into their products, and launching their own virtual apps as well. Hasbro closed at $91.45 a share, up 3 percent, Friday.
Hasbro has an $11 billion market value following its increase of 18% in stock price since the start of 2017. Last month the company suspended its dividend and warned it would miss forecasts for revenue this year. Mattel has also blamed the bankruptcy of toy retailer Toys "R" Us for its weak sales. Mattel stock fell on that day to its lowest since 2009.
That deal would have given Hasbro a direct pipeline into Hollywood, with more movies and TV shows tied to its toy brands.
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