Topps delays vote on Eisner-led bid
Topps Co., maker of baseball cards and Bazooka bubble gum, postponed a shareholder decision on a $384.5-million buyout by a group led by Michael Eisner, saying the offer would probably be rejected in a Thursday vote.
The delay comes a week after Carlsbad, Calif.-based Upper Deck Co. dropped a $416-million bid made in May. Tornante Co., controlled by Eisner, the former Walt Disney Co. chief executive, and Madison Dearborn Partners offered $9.75 a share for Topps in March.
The vote on the Eisner group’s proposal was moved to Sept. 19 so that stockholders “can evaluate recent developments,” New York-based Topps said.
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