Mattel shares jump 8% on reports of rejected merger offer

Mattel Inc. MAT, +7.59% stock jumped almost 8% in early Wednesday trading after reports that the toy company turned down a merger offer from MGA Entertainment Inc., the company behind LOL Surprise and the Bratz dolls.

Mattel has struggled with sales declines, but has taken steps to create partnerships and delve more deeply into entertainment, such as a deal with Pixar and an expanded deal with Warner Bros. Mattel shares have rallied 13.4% for the year to date while the S&P 500 index SPX, -0.09% is up 15.2% for the period.

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