Margot Robbie as Barbie in a Mattel and Warner Bros. filmMattel | Warner Bros. Mattel is reportedly facing pressure from an investor to consider a sale amid sales difficulties and growing buyer interest in the Barbie maker. U.S. investment firm Ariel Investments, a major shareholder in the toy maker, said that as the struggling business seeks a turnaround, it should consider a sale to the right buyer, according to a letter from Chairman and Co-CEO John Rogers to Mattel’s board of directors, seen by Reuters and the Wall Street Journal. “Based on our estimates, a strategic buyer would pay a significant premium over its current stock price,” Ariel’s Rogers said in the letter, saying the company would be attractive to potential buyers, including entertainment companies and private equity firms. He added that Mattel’s options ranged from a “divestiture of significant assets, a merger and/or an outright sale of the company. Mattel shares last traded below the flat line in premarket trading and are down 19% since the beginning of the year. Stock Chart IconStock chart iconMattel shares since the beginning of the year. “We appreciate Ariel Investments’ long-standing investment in Mattel and its continued commitment,” a spokesperson for Mattel in a statement shared with CNBC “Our board of directors and our management team are committed to acting in the best interest of all shareholders and will consider the opinions expressed in the letter from Ariel Investments, as well as the opinions of other Mattel shareholders,” they added. Roger Lynch, who replaced his predecessor Ynon Kreiz in September, led the company for eight years. Last week, brand licensing firm Authentic Brands expressed interest in acquiring Mattel with a potential offer valued at about 6,000. million dollars, Mattel shares reportedly rose 20% on the news.
