A Japanese company is in discussions with DreamWorks Animation about buying the U.S. animation studio. Bloomberg reports that SoftBank is in talks to acquire the studio for $3.4 billion.

The discussions come after DreamWorks Animation has previously looked for a buyer, the story notes.

“An acquisition hasn’t been formally discussed by senior executives at SoftBank, and the chances of reaching a final agreement are low, said [a source] familiar with matters at Tokyo-based SoftBank,” the piece reports.

SoftBank has reportedly offered $32 per share for DreamWorks Animation, or about 43% higher than its closing price on Friday.

DreamWorks Animation has been diversifying beyond film, adding to its TV programming and buying the online video network Awesomeness TV. The company has been hit by uneven results at the box office for its films.

If the talks result in an acquisition, SoftBank would be the second Japanese company to own a Hollywood studio, following Sony Corp.

SoftBank holds a 30 percent stake in Alibaba Group, the Chinese e-commerce company that just went public in the U.S., with Bloomberg noting the stake is worth more than $70 billion.