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Saturday, September 27, 2014

Japan's SoftBank in talks to purchase DreamWorks - media reports, (NASDAQ: DWA)

Japan's SoftBank is in talks to acquire DreamWorks Animation SKG in a deal that valued DreamWorks at as much as $3.4 billion, media reported on Sunday. A SoftBank spokesman said the company had no comment.The acquisition talks were reported by The Hollywood Reporter, Variety and The Wall Street Journal.The Hollywood Reporter quoted an unidentified source with knowledge of the deal as saying an acquisition would value DreamWorks at $3.4 billion.That would value DreamWorks Animation at $32 per share. The stock closed at $22.36 on Friday.

DreamWorks Animation SKG, Inc. (DreamWorks Animation) is engaged in the development, production and exploitation of animated films and their associated characters in the worldwide theatrical, home entertainment, television, merchandising and licensing and other markets. Shares of DWA traded higher by 0.58% or $0.13/share to $22.36. In the past year, the shares have traded as low as $19.20 and as high as $36.01. On average, 1113410 shares of DWA exchange hands on a given day and today's volume is recorded at 655389.