The baseball card market looks to get a little bit smaller as Upper Deck has launched a hostile takeover bid for rival sports card maker Topps.
The Upper Deck Co. said on Monday it would launch a hostile tender offer to acquire baseball trading card company Topps Co. Inc. for about $425 million.
Upper Deck, which publishes sports trading cards and other memorabilia, said its $10.75 per share offer was superior to Topp’s existing deal to be acquired for $9.75 per share by a private equity firm and an investment group led by former Walt Disney Co. chief Michael Eisner.
Upper Deck said its cash offer is not conditioned upon any financing arrangements.
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