The following was posted by Reuters on their news service. You can find it on any of the stock quoting services that provide news with the quotes.(MAT) is the symbol.
Frank ============ NEW YORK, April 3 (Reuters) - Mattel Inc. [MAT-news], the maker of Barbie dolls and Hot Wheels cars, on Monday said it will pursue the sale of its troubled Learning Co. software business, which it acquired in May for $3.5 billion.
El Segundo, Calif.-based Mattel said it hired Credit Suisse First Boston to handle the sale of business, which racked up big losses, driving the stock near its 52-week low and contributing to the resignation of Jill Barad, the company's former chairwoman and chief executive.
Mattel said its board has made it clear that it does not intend to include control of any Mattel brands in this transaction.
The software business could fetch from less than $500 million to about $1 billion, depending on whether certain licensing rights are included, according to a report in the Wall Street Journal.
Mattel said the business will be treated as a discontinued operation in its financial statements effective March 31, the company said. Shares of Mattel rose 7/16 to 10-7/8 in early trading on the New York Stock Exchange on Monday.