A Japanese conglomerate has expressed interest in buying DreamWorks Animation.
According to The Hollywood Reporter, SoftBank has offered $32 a share for the public company, putting its value at $3.4 billion. The offer also reportedly includes a five-year deal for founder and CEO Jeffery Katzenberg to stay on board.
While DreamWorks representatives have denied to comment on such rumors, the Reporter writes a source informed it that there was an emergency board meeting held late last week to consider the offer.
SoftBank is a Japanese conglomerate connected to DreamWorks through former Google exec Nikesh Arora, who heads up Softbank’s Internet and Media division.
DreamWorks has been seeking a buyer for a while, as its stock prices — which shot up after reports of the Softbank deal went public — have been fluctuating depending on the box office performance of its feature film releases.