DreamWorks falls following aborted Hasbro talks

DreamWorks Animation SKG Inc., the independent studio that made the “Shrek” movies, fell to its biggest intraday loss in more than six years Monday following aborted talks to sell the company to Hasbro Inc.
The studio, led by co-founder and Chief Executive Officer Jeffrey Katzenberg, slumped 14 percent to $22.33 at 2:01 p.m. in New York after being down almost 17 percent, to mark the biggest intraday loss since September 2008.
The drop marked the second time in two months investors retreated after bidding up the stock on reports the company was in sale talks. Glendale, California-based DreamWorks Animation held merger talks with Japan’s SoftBank Corp., the company led by Masayoshi Son, people with knowledge of the situation said in late September. The stock jumped 26 percent on Sept. 29, then fell eight of the next 10 sessions.
Talks with Pawtucket-based Hasbro never advanced beyond a preliminary stage, a person with knowledge of the matter said on Nov. 14.
Hasbro rose 4.2 percent to $56.27. Earlier it rose as much as 5.9 percent, the biggest intraday gain since Oct. 20.

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