Not surprisingly, the Topps Co. today has recommended that it’s shareholders reject Upper Deck’s proposal to buy the company saying the Carlsbad-based trading card manufacturer’s “proposal was not in the best interests of the shareholders.
Topps said Monday that it plans to continue talks with Upper Deck to see if a consensual deal that is superior to the pending transaction with Tornante Co. [headed by former Disney boss Michael Eisner] and Chicago-based Madison Dearborn Partners LLC can be reached.
[Link: Chicago Tribune]
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