Having recommended DWA long earlier this month, I was thrilled to see this headline today. Now we're beginning to see what Softbank will do with a portion of their profits from the Alibaba ($BABA) investment after their IPO last week.
According to Hollywood Reporter, Japanese conglomerate SoftBank is in talks to acquire DreamWorks Animation in a deal that would value the company at $3.4 billion, according to a source with knowledge of the situation.
SoftBank has been in the news lately because of its $20 million investment in Chinese Internet giant Alibaba (BABA), a stake now worth a minimum of $60 billion. The sprawling company is considered undervalued and on Sept. 25, Jefferies Group LLC rated SoftBank as "a compelling buy opportunity."
DWA founder and CEO Jeffrey Katzenberg would sign a five-year contract to remain with the company, according to the source, who says the DWA board held an emergency meeting Thursday to consider the offer. SoftBank is said to have offered $32 a shar