The Topps Co. on Friday, Aug. 17, sent a letter to shareholders reiterating
that the $9.75 a share, $385 million buyout offer from Tornante Co. LLC and
Chicago private equity firm Madison Dearborn Partners LLC is in the best
interests of shareholders and recommending they vote in favor of the
transaction on Aug. 30. The letter, from chairman and CEO Arthur Shorin, was a
response to a request from Beverly Hills, Calif.-based Tornante Aug. 15 that
New York-based Topps reaffirm the recommendation. In the letter, Shorin also
wrote that in spite of its best efforts, the board of directors has not
reached a consensual transaction with Upper Deck Co. on its $10.75 a share,
$425 million tender offer. —David Shabelman
See
Topp's presentation to shareholders
See
earlier post
See
Topps Dealwatch
Tags: Topps,
Upper Deck,
media,
acquisition,
m&a,
mergers,
private+equity
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