Topps shareholders OK $385M takeover bid

Published: Thursday, Sept. 20 2007 12:06 a.m. MDT

Topps Co. shareholders approved a $385 million takeover bid for the baseball-card maker by a group led by former Walt Disney Co. chief Michael Eisner

The transaction probably will be completed in October, Topps said in a statement Wednesday. The company didn't release an official tally.

The baseball-card company previously rescheduled votes three times, including late last month, on the $9.75-a-share offer by Eisner's Tornante Co. and Madison Dearborn Partners LLC. Rival baseball-card maker Upper Deck Co. had offered to buy Topps for $416 million before scrapping that proposal.

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