Shares of Mattel soar in after-hours trading after a news report said rival toy maker Hasbro made a takeover offer for Mattel.

Both companies took a hit when Toys R Us filed for bankruptcy protection in September. Hasbro and Mattel said that they temporarily reduced shipments to the toy store operator ahead of the bankruptcy filing, but said they were working with the retailer to get their toys on its shelves during the holiday season.

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