September 20, 2007 |
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.
August 21, 2007 |
new york -- Influential proxy advisory firm Institutional Shareholder Services recommended Monday voting against the takeover of baseball card company Topps Co. by a private equity firm and an investment group led by former Walt Disney Co. chief Michael Eisner. ISS said that investors should oppose the $384.5-million bid from Madison Dearborn Partners and Tornante Co. because there was an alternative, higher bid being offered by rival Upper Deck Co. for $425 million.
June 7, 2007 |
Topps Co. and some of its directors were sued by rival baseball-card maker Upper Deck Co. over claims that Topps breached a confidentiality agreement reached during merger talks. Upper Deck, joined in the suit by Topps investor Northwood Investors, also sought an injunction to block shareholders from voting June 28 on the company's sale to a Michael Eisner-led investment group, Topps said Wednesday in a regulatory filing. Topps, based in New York, agreed March 6 to be bought for $384.
May 22, 1993 |
An Orange County jury determined Friday that two lawyers who sued Upper Deck Co., a fast-growing baseball-card maker, should receive a $33.1-million award for their 3% stake in the company. Last week the jury found that Upper Deck executives gave a 3% share of the company to Anthony J. Passante Jr. when the company was started in Yorba Linda in 1988. Passante subsequently agreed to split the stake with Andrew J. Prendiville.
October 6, 2007 |
Topps Meat Co. said it was closing its business, days after it was forced to issue the second-largest beef recall in U.S. history and 67 years after it opened its doors. The decision will cost 87 people their jobs, the Elizabeth, N.J., company said. Topps on Sept. 25 began recalling frozen hamburger patties that may have been contaminated with a potentially fatal strain of E. coli bacteria. The recall eventually expanded to 21.7 million pounds of ground beef. Thirty people in eight states had E.
April 11, 2002 |
Luis Gonzalez apparently won't have to give DNA samples after all. No more gumshoe detective work will be necessary. The Arizona Diamondback All-Star reportedly has decided to end any controversy over the legitimacy of a piece of already-been-chewed-by-Gonzo gum being sold at auction on the Internet. Gonzalez said he would chew a new piece of gum while on a Tucson radio program via telephone this morning, according to Johnjay of the "Johnjay and Rich" show on station KRQ.
September 5, 2006 |
In a bid to resolve a sticky mess, a judge has decided that an Argentine company can continue making its sweet-tasting Bazooka gum even though its relationship with Topps Co., which made the brand famous, has long since soured. The ruling by U.S. District Judge Charles S. Haight Jr. described not just the decades-long history of the companies but also the millenniums-old history of gum, stretching back to when the ancient Greeks chewed on a substance made from the resin of the mastic tree.
August 20, 1989 |
--What if they didn't give a concert and everybody came? Not a single rock star was scheduled to perform, but cars were lining the roads leading to the former Max Yasgur farm where the Woodstock Festival took place 20 years ago. A crowd estimated to be at least 20,000 showed up, although some proved themselves less hardy than their predecessors by leaving when they were rained on. In contrast, a reunion concert 12 miles from Bethel, N.Y.
September 21, 2000 |
Lehman Bros. Holdings Inc. reported a 58% rise in profit to $457 million, or $3.37 a share, well beyond analysts' expectations of $2.74, driven by trading gains and merger advisory fees. Lehman also approved a 2-for-1 stock split. Net revenue grew 51% to $2.05 billion, powered by a 117% climb in revenue from stock and bond trading. Lehman pulled in more than $1 billion from trading stocks and bonds, more than double what it made last year.