Topps Co

* Topps Co., the maker of baseball trading cards and Bazooka bubble gum, said its fourth-quarter earnings fell 53% because sales of its Pokemon candy and cards dropped. Net income for the fiscal quarter ended March 3 fell to $8.6 million, or 19 cents a share, from $18.1 million, or 38 cents, a year ago. Revenue for the New York-based company fell 38% to $60.5 million.

Topps Co., maker of baseball cards and Bazooka bubble gum, said investors holding 53.4% of its shares voted in favor of the $385-million acquisition by a Michael Eisner-led buyout group. The company, based in New York, had rescheduled votes three times on the $9.75-a-share offer by former Walt Disney Co. chief Eisner's Tornante Co. and Madison Dearborn Partners. Rival baseball card maker Upper Deck Co. had offered to buy Topps for $416 million before scrapping that proposal.

Topps Co., maker of baseball cards and Bazooka bubble gum, said investors holding 53.4% of its shares voted in favor of the $385-million acquisition by a Michael Eisner-led buyout group. The company, based in New York, had rescheduled votes three times on the $9.75-a-share offer by former Walt Disney Co. chief Eisner's Tornante Co. and Madison Dearborn Partners. Rival baseball card maker Upper Deck Co. had offered to buy Topps for $416 million before scrapping that proposal.

Shareholders of Topps Co. approved a $385.4-million private equity takeover of the maker of sports cards and candy, the company said Wednesday, defeating activist investors who had said the price was too low. Chief Executive Arthur Shorin told shareholders the deal had enough preliminary votes to pass at the end of a special meeting. The meeting had been postponed three times as the company sought the votes it needed. Michael Eisner's Tornante Co.

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.

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.

Topps Co., the maker of collectible trading cards and Bazooka bubble gum, said fiscal fourth-quarter profit rose 38% as its European soccer and "Yu-Gi-Oh" Japanese cartoon products led sales higher. Net income increased to $1.99 million, or 5 cents a share, from $1.45 million, or 3 cents, a year earlier, the New York-based company said. Sales in the period ended March 1 rose 9.4% to $65.7 million from $60 million. The strength of foreign currencies against the U.S. dollar boosted sales by $2.

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.

Upper Deck Co., a closely held maker of baseball cards, launched a tender offer Monday to buy shares of rival Topps Co. for $10.75 each. The offer, which expires July 24, values Topps at about $425 million, Upper Deck said. Topps has agreed to be acquired by a group led by former Walt Disney Co. Chief Executive Michael Eisner for $9.75 a share.

Shareholders of Topps Co. approved a $385.4-million private equity takeover of the maker of sports cards and candy, the company said Wednesday, defeating activist investors who had said the price was too low. Chief Executive Arthur Shorin told shareholders the deal had enough preliminary votes to pass at the end of a special meeting. The meeting had been postponed three times as the company sought the votes it needed. Michael Eisner's Tornante Co.

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.

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.

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.

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.

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.

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.

Topps Co., the baseball trading-card maker that agreed to be sold to a group led by former Walt Disney Co. Chief Executive Michael Eisner, must postpone a shareholder vote on the deal until rival Upper Deck Co. can make a bid, a judge ruled Thursday. Delaware Chancery Judge Leo Strine Jr.

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.

Upper Deck Co., a closely held maker of baseball cards, launched a tender offer Monday to buy shares of rival Topps Co. for $10.75 each. The offer, which expires July 24, values Topps at about $425 million, Upper Deck said. Topps has agreed to be acquired by a group led by former Walt Disney Co. Chief Executive Michael Eisner for $9.75 a share.

Topps Co., the baseball trading-card maker that agreed to be sold to a group led by former Walt Disney Co. Chief Executive Michael Eisner, must postpone a shareholder vote on the deal until rival Upper Deck Co. can make a bid, a judge ruled Thursday. Delaware Chancery Judge Leo Strine Jr.