Navigate this market better. Subscribe for FREE stock alerts and information.

Tuesday, September 30, 2014

SoftBank, DreamWorks Animation talks have cooled -sources, (NASDAQ: DWA)

SoftBank Corp's talks to acquire Hollywood studio DreamWorks Animation SKG Inc have cooled, a SoftBank source and banking sources in Japan said.DreamWorks Animation shares were down about 9 percent in extended trading on Monday. The shares had risen about 26 percent to close at $28.18 during market hours on reports that SoftBank was in talks to acquire the company.A SoftBank source said talks had taken place with DreamWorks Animation but they did not appear to be going anywhere.Two bankers at separate institutions in Japan said SoftBank's interest had cooled even before media reports emerged over the weekend about the discussions, with one citing price as a dissuading factor.

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 26.03% or $5.82/share to $28.18. In the past year, the shares have traded as low as $19.20 and as high as $36.01. On average, 1404620 shares of DWA exchange hands on a given day and today's volume is recorded at 19501196.