Breaking news: Upper Deck joins the race for Topps

Topps Co. finally confirmed Thursday TheDeal.com April 18 report that it has received an unsolicited offer from rival Upper Deck Co. LLC. The new offer of $10.75 a share bests by a $1 a share an accepted offer from Madison Dearborn Partners and Michael Eisner's firm Tornante Co. Topps, with the approval of the private equity firms, will explore Upper Deck's bid. The news should placate board member Arnaud Ajdler, who, a day after the reports of a Upper Deck bid surfaced last month, blasted the trading card maker and confectioner's process for finding a buyer.

See TheDeal.com for a full story later this afternoon. —Matthew Wurtzel

See April 18 story from TheDeal.com
See story about Ajdler from TheDeal.com

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