CNBC reported Friday that negotiations for a Hasbro-Mattel merger aren’t ongoing, contrary to earlier reports that the two toymakers began discussions of a merger in late 2015.

Both stocks fell slightly Friday after rising Thursday. Mattel stock closed at $31.78 Friday, down less than 2 percent from Thursday’s closing price. Hasbro also fell about 2 percent Friday.

Representatives from Hasbro and Mattel declined to comment, both saying they don’t address rumors or market speculation.

A Hasbro-Mattel merger would create the largest toymaker in the world, with about $10 billion in annual sales. They would have a formidable arsenal of top brands and licenses for boys’ and girls’ toys, including Star Wars, Marvel, DC Comics, Transformers, Barbie, Frozen and Disney.

Bloomberg also reported Friday that the Walt Disney Co. in Burbank could object to any prospective merger. Hasbro and Mattel bid against each other for the right to market Disney properties. Hasbro ultimately won the rights to manufacture Disney Princesses, a $500 million business.

There are also concerns about antitrust issues, according to the Business Times in Singapore, suggesting a merger of Hasbro and Mattel would need to win approval from antitrust officials in Washington who are increasingly negative to deals marrying the dominant players in an industry.