Upper Deck Withdraws Offer For Topps

Auto Date Tuesday, August 21st, 2007

On Tuesday, Upper Deck announced that they were withdrawing their offer for The Topps Co.

Upper Deck, which had offered $10.75 per share ($425 million), said in a letter that Topps put up roadblocks to the deal as apart of a “deliberate effort” to discredit Upper Deck publicly and within Topps, defeat its offer and justify management support of a $385 million offer from private equity firm Madison Dearborn Partners LLC and Tornante Co, an investment group led by former Walt Disney chief Michael Eisner.

Collectors everywhere are rejoicing!!!

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