It looks like the Topps Company sales saga that started this past spring may be finally coming to an end. Shareholders will hold a vote on the proposed acquisition by Michael Eisner’s The Tornante Company LLC and Madison Dearborn Partners on Wednesday, September 19.
Recently, rival trading card manufacturer Upper Deck has withdrawn its tender offer and ceased negotiating with Topps. No other bidder has since emerged.
The current offer on the table amounts to US$9.75 per share for an all-cash merger, as opposed to the US$10.75 per share that Upper Deck had tabled.
The Executive Committee of the company believes that stockholders should accept the Tornante terms in lieu of any other offers.