Eisner Group Buying Topps
Topps (TOPP) agreed to go private in a deal with Michael Eisner's Tornante and Madison Dearborn.
Shareholders of the New York-based trading-card company will get $9.75 a share in cash, a 9% premium to Monday's closing price. The deal is worth $385 million.
"After careful and thorough consideration, our board of directors determined that this transaction is in the best interests of Topps stockholders at this time," said Topps chief Arthur T. Shorin. "This will be a change in ownership, not a change in direction. We look forward to working with an experienced group of investors who understand the creative aspects of our business and are committed to our continued growth."
The news comes just a month after Topps released a Derek Jeter playing card that had been doctored to include images of President Bush and Mickey Mantle in the background.
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