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Hasbro did not immediately respond to a Reuters request for comment.
A deal would reunite the popular Disney characters with Mattel. The company will start selling new Disney toys in 2023.
Shares in Mattel rose about 8%, while those of Hasbro fell around 1% in premarket trading.
Hasbro in 2016 began selling Disney Princess and “Frozen” dolls after edging out Mattel for a license.
