Private equity firm L Catterton, backed by luxury goods giant LVMH, has approached U.S. toy maker Mattel with an acquisition offer, according to sources. The news, reported by Reuters on Monday, led to a significant rise in Mattel's stock, which jumped nearly 20%. Despite the reports, Mattel has stated that it is confident in its strategy as a standalone company and dismissed the takeover approach. The company's spokesperson reiterated that Mattel is not in any deal talks and has not been approached. Mattel's rival, Hasbro, also saw a slight increase in its stock price following the news. Mattel is known for its popular Barbie brand.