Ohio district court judge Solomon Oliver has put a July 7 expiry date on American Greeting’s temporary restraining order that has so far blocked the US$87.6 million dollar sale of DIC Entertainment to Cookie Jar Group announced on June 20.
The TRO ends at 11:59 p.m. on July 7 and according to a statement issued to the London Stock Exchange by DIC earlier today, the expiration leaves the merger free to take place on the planned July 21 deadline, subject to stockholder approval.
However, the pair isn’t out of the woods yet. Judge Oliver has set a preliminary injunction hearing date, based on the American Greetings action, for July 24 and 25.
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