August 28, 2007 |
Topps Co., maker of baseball cards and Bazooka bubble gum, postponed a shareholder decision on a $384.5-million buyout by a group led by Michael Eisner, saying the offer would probably be rejected in a Thursday vote. The delay comes a week after Carlsbad, Calif.-based Upper Deck Co. dropped a $416-million bid made in May. Tornante Co., controlled by Eisner, the former Walt Disney Co. chief executive, and Madison Dearborn Partners offered $9.75 a share for Topps in March.
August 23, 2007 |
Shares of baseball card company Topps Co. fell 7% on Wednesday after hostile suitor Upper Deck Co. dropped its $417-million bid, leaving Topps with a $378-million offer from a buyout group and a firm led by former Walt Disney Co. Chief Executive Michael Eisner. Topps said it planned to "hold Upper Deck accountable for all damages suffered by Topps and our stockholders, as a result of Upper Deck's actions." In May, Upper Deck disclosed its unsolicited offer of $10.
August 22, 2007 |
Upper Deck Co. withdrew its offer Tuesday to buy rival baseball card maker Topps Co., clearing one obstacle in the way of a proposed private equity takeover of the iconic sports memorabilia company. New York-based Topps, maker of baseball cards and Bazooka bubble gum, has recommended that shareholders approve a deal with investors, including a group led by former Walt Disney Co. Chief Executive Michael Eisner. Shareholders are scheduled to complete a vote on that deal next week.
August 9, 2007 |
Topps Co., the maker of baseball cards and Bazooka bubble gum, questioned how serious Upper Deck Co.'s interest in buying the company was after it failed to review a draft merger agreement based on its $425-million offer. Upper Deck didn't respond to attempts to complete the accord after weeks of talks and the expiration of an antitrust waiting period, Topps said in a letter to lawyers for Carlsbad, Calif.-based Upper Deck.
August 7, 2007 |
Topps Co., the maker of baseball cards and Bazooka bubble gum, said Upper Deck Co. was free to begin a $425-million bid for the company after an antitrust waiting period ended. The shares gained the most since a group led by Michael Eisner made a lower offer in March. Topps, based in New York, continues to negotiate with sports-memorabilia maker Upper Deck, a closely held company based in Carlsbad, Calif. Topps said its board still supported the $384.
July 10, 2007 |
Directors of Topps Co., the maker of baseball cards and Bazooka gum, recommended that shareholders vote against a $425-million tender offer from Upper Deck Co. because of concerns about getting antitrust approval. Topps, based in New York, agreed in March to be acquired by Tornante Co., led by former Walt Disney Co. Chief Executive Michael Eisner, and Madison Dearborn Partners for about $9.75 a share, or $384.5 million. In May, Topps said Upper Deck had made a higher offer, about $10.75 a share.