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Topps Talks With Upper Deck

The 'indication of interest' is at $10.75 a share.

Topps (TOPP) said it got an unsolicited indication of interest that Upper Deck would like to buy it for $10.75 a share.

New York-based Topps described the approach as highly conditional and said for that reason its board hasn't declared the proposal superior to its existing $9.75-a-share buyout offer from private equity firm Madison Dearborn and former


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exec Michael Eisner.

Topps said Madison Dearborn is letting it talk with Upper Deck. Shares were halted in early trading after closing Wednesday at $9.78.