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
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.