SoftBank seeks to buy DreamWorks Animation
Japanese cell provider aims to acquire Hollywood studio.
SoftBank Corp. is reportedly in talks to buy Hollywood studio DreamWorks Animation, home of Shrek, Madagascar and How to Train Your Dragon.
The Tokyo-based wireless carrier, according to The Hollywood Reporter, is said to have offered $32 a share for the studio’s stock, which is a 30% premium over its Friday closing at $22.36.
DreamWorks Animation (DWA) has had a rough time on Wall Street lately, seeing shares drop more than 22% over the last 12 months.
The move comes from SoftBank, which owns Sprint (S), after it gave up on its attempt to merge that carrier with T-Mobile.
Last year, SoftBank paid $1.5 billion for a 51% stake in mobile game maker Supercell. An early investor in Chinese Internet giant Alibaba, SoftBank also has a 37% stake in Alibaba that is now worth more than $70 billion.
Source: Usatoday- SoftBank seeks to buy DreamWorks Animation
