Topps Co. has given Carlsbad’s Upper Deck the go ahead to begin it’s $425 million bid for the trading card and chewing gum giant after an antitrust waiting period ended.
Topps said it continues to negotiate with Upper Deck, but reiterated that its board still supports the $384.5 million offer from a group led by former Walt Disney Co. Chief Executive Michael Eisner and Chicago-based Madison Dearborn Partners LLC.
The Topps directors are still telling shareholders to vote against Upper Deck.
[Link: Chicago Tribune]
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