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The Topps Co. on Monday officially postponed its June 28 shareholder meeting to vote on a $385 million acquisition offer from Michael Eisner's Tornante Co. LLC of Beverly Hills, Calif., and Chicago private equity firm Madison Dearborn Partners LLC. The announcement follows a June 14 decision from the Delaware Court of Chancery, which enjoined the trading card and confectioner from proceeding with the vote until it makes additional disclosures in its proxy materials relating to the pending merger agreement. Topps also will grant a waiver releasing Carlsbad, Calif.-based Upper Deck Co. LLC from standstill obligations to Topps so that it may pursue a tender offer for the company. New York-based Topps said a new date for its shareholder meeting will be set as soon as it is practical. —David Shabelman
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June 14 story from TheDeal.com CategoriesPrivate capital video
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