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Sunday, September 28, 2014

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

Japan's SoftBank Corp is in talks to acquire DreamWorks Animation SKG , a person with knowledge of the situation said.An acquisition of DreamWorks by SoftBank would make the Hollywood studio that created "Shrek" part of a Japanese communications and media company that, under founder and chief executive Masayoshi Son, has shown a willingness to take big bets on combining seemingly unrelated businesses.The acquisition talks were first reported by the Hollywood Reporter, which quoted an unidentified source with knowledge of the deal as saying an acquisition would value DreamWorks at $3.4 billion. The entertainment trade publication said SoftBank had offered $32 per share for DreamWorks.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.