SoftBank, DreamWorks Animation talks Cool: Report

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SoftBank, DreamWorks Animation talks Cool: Report
Japan's SoftBank Corp's talks to acquire Hollywood studio DreamWorks Animation SKG Inc have cooled, the Wall Street Journal reported, citing people familiar with the matter.

DreamWorks Animation shares were down about 9 percent in extended trading. Shares had risen about 26 percent to close at $28.18 during market hours on Monday on reports that SoftBank was in talks to acquire the company.

(Also see: Softbank Silent on Reports Saying It Has Bid for DreamWorks Animation)

It wasn't immediately clear what had happened between Saturday, when the talks were under way, and Monday, the report said.

However, it was possible that the talks could restart, with the two sides striking a deal other than an outright takeover, that could also be some kind of content partnership, the Journal said.

DreamWorks Animation spokeswoman Allison Rawlings said the company will not comment on market rumors. Softbank could not be reached for comment.

© Thomson Reuters 2014

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