KEY POINTS:
SYDNEY - Australian toy company Funtastic has received a possible takeover approach from an unnamed suitor, sending its shares 7 per cent higher.
Funtastic, which has a market capitalisation of about A$308 million ($345 million), said the proposal was "confidential, preliminary, incomplete and currently unfunded".
The company's biggest shareholder, ABC Learning Centres, also said it had been approached about its 18 per cent stake in Funtastic but no decisions had been made.
Responding to a regulatory query about a jump in its share price on Friday, Funtastic said talks had only just begun and there was no guarantee any agreement would be reached.
ABC, Australia's top childcare centre operator, said it had not made a formal move but had been approached by another party.
- REUTERS
