Not Going to Take the Topps Bid

Updating a previous post regarding a potential buyout of Topps by Upper Deck has taken an interesting turn. Topps, today said they favor the $385 million bid from Madison Dearborn Partners which is run by former Disney head, Michael Eisner. Topps is favoring this bid over a $424 million bid from their rival Upper Deck. This has has made Topps shareholders furious.

I think this is rightfully so. By taking the Madison bid, Topps will be leaving almost $40 million on the table for their shareholders. It appears that Management and major owners will be getting a more favorable payout structure with the Madison deal. Topps however, believe the Madison bid is superior due to Topps' characterization of Upper Deck's bid as an attempt to get information about Topps as well the lack of details behind Upper Deck's bid.

This whole Madison deal sounds a bit suspect. Since Upper Deck has sued Topps, I think more details will come out in the near future.

[Photo: beardnb]

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Blogger MG Siegler said...

Just a heads up - you'll probably want to redirect your now www URL to your www one, right now it just leads to an error. you can do that through your domain registrar.

16 June, 2007 20:37  

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