Report: Mattel Eyeing Acquisition Of Baby Products Manufacturer

According to a report by Sky News, Mattel, Inc. (NASDAQ: MAT) is eyeing an acquisition of a British based manufacture of baby products.

Sky News reported that Mattel has requested financial information from Mayborn Group whose brand includes Tommee Tippee.

Mayborn Group is currently owned by group 3i, a private equity firm that put the company up for sale recently. Sky News, citing "insiders," added that the company is expected to be valued at close to £300 million or $433.8 million.

Mayborn Group's profit has more than doubled under 3i's ownership as the company positioned itself to "millennial mums" who are "frequently influenced by social media."

Shares of Mattel were trading lower by nearly 2 percent at $31.66 early Friday afternoon.