Mulligan will play the daughter of Douglas's character, and will be romantically linked to LaBeouf's. According to THR, Josh Brolin is also in talks to join the film, which will feature a script by Allan Loeb and begin shooting in September in New York.
Mulligan received a Drama Desk nomination for her performance in last season's Broadway revival of The Seagull. She will also be appearing in the upcoming film An Education, due out in October.
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