by The Editors on April 14, 2009
Longtime Carlsbadistan readers will remember the trading card battle of 2007 waged with when Carlsbadistan based trading card company The Upper Deck Co. made an offer to buy Topps. Though the companies went through several rounds in court the sale never happened.
Now, Topps is taking The Upper Deck Company to court for allegedly stealing layouts and designs from cards Topps produced in the 1970s, according to a story in BusinessWeek.
In its lawsuit, Topps described how it believes Upper Deck mimicked its design with just a few variations. . . It said similarities between each company’s cards included the use of a colorful, divided two-tone border, the player’s photograph superimposed on a thin white border, the player’s autograph toward the bottom of the picture and the use of an image of a baseball on a bottom corner of the card. . . Topps asked that Upper Deck be ordered to destroy the cards and turn over any profits, along with other unspecified monetary damages.
Good luck on this one. As we all know, judges and juries are notoriously experts when it comes to graphic design.
[Link: BusinessWeek]
by The Editors on August 21, 2007
In the battle of the sports trading card giants it appears that Carlsbad’s Upper Deck has decided to terminate its tender offer for all outstanding share of Topps Co., Inc. . .
and added that the action of Topps made conditions precedent to the tender offer incapable of being satisfied. Further, Upper Deck said that all shares of Topps previously tendered and not withdrawn under the tender offer would be returned promptly in accordance with the terms of the tender offer.
Let’s just say that Upper Deck is not happy with the Topps board right now. And the deal is off.
[Link: RTT News]
by The Editors on July 9, 2007
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]
by The Editors on July 7, 2007
Former Disney CEO Micheal Eisner currently “finds himself the unwitting star of the second installment of his own worst nightmare,” according to Businessweek. This time it all hinges on his bid to take over bubblegum maker Topps, a business that the Carlsbad-based trading card company Upper Deck would very much like to own.
After initially resisting the overture from Upper Deck, the Topps board will announce on Monday, July 9, whether it intends to entertain Upper Deck’s offer. That would likely send Eisner to the showers, according to those with knowledge of the media mogul, who say he is unlikely to increase his $9.75-per-share offer.
I guess we’ll see on Monday.
[Link: Businessweek and Chicago Tribune]
by The Editors on June 27, 2007
According to the San Diego Business Journal:
Upper Deck Co. had officially made a bid buy rival Topps Co. for about $425 million, a move that could undermine an attempt by former Walt Disney Co. head Michael Eisner to acquire the trading card company. . . Upper Deck, a Carlsbad-based trading card and sports entertainment publishing company said late Monday that its offer values Topps’s shares at $10.75 each and would expire on July 24.
This story is much more complicated that it seems as Upper Deck had to force Topps into considering it’s offer. And some are suggesting that Topps managment hadn’t told share holders that Eisner was planning on “retain existing management.” For more on those details check out this story from AZcentral.com.
[Link: San Diego Business Journal]
by The Editors on May 26, 2007
Carlsbad’s Upper Deck is in the hunt to purchase Topps, the grand daddy of trading card companies. But so is former Disney boss Michael Eisner. Upper Deck is offering $1 a share more than Eisner and things are reportedly looking for the consolidation.
James Barrett, an analyst who covers Topps for CL King, predicted that barring any regulatory obstacles, hard-charging Upper Deck founder and Chairman Richard McWilliam would get his wish of owning Topps.
If we had the money we’d buy it just to own the Wacky Packages franchise.
[Link: San Diego Union Tribune]
by The Editors on February 2, 2010
by The Editors on August 23, 2007
We mentioned on Tuesday that Carlsbad based trading card giant Upper Deck had pulled out of their $416 million bid to purchase the Topps Co, Inc. That of course caused Topps’ stock to tumble 7% and made them a little angry according to the San Diego Union Tribune.
In a statement, Topps said the cancellation of Upper Deck’s $416 million offer was proof that the proposal had always been a “sham.” . . The New York company, which also owns the Bazooka and Ring Pop brands, said it would hold Carlsbad-based Upper Deck accountable for all “damages suffered by Topps and our stockholders.”
The Topps board was hoping to be purchased by an investment group led by former Disney head Michael Eisner.
[Link: San Diego Union Tribune]
by The Editors on August 7, 2007
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]
Longtime Carlsbadistan readers will remember the trading card battle of 2007 waged with when Carlsbadistan based trading card company The Upper Deck Co. made an offer to buy Topps. Though the companies went through several rounds in court the sale never happened.
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