Certified Results Confirm Topps Stockholders Approved Transaction With Michael Eisner's Tornante Company and Madison Dearborn Pa
25 September 2007 - 11:22PM
PR Newswire (US)
NEW YORK, Sept. 25 /PRNewswire-FirstCall/ -- The Topps Company,
Inc. (NASDAQ:TOPP) today announced that the results from the
Company's September 19, 2007 special meeting of stockholders have
been tabulated and certified, and the acquisition of Topps by The
Tornante Company LLC and Madison Dearborn Partners, LLC (MDP) has
been approved by Topps' stockholders. The transaction will close
promptly after the satisfaction of certain remaining conditions,
which is anticipated to occur in October. As certified by IVS
Associates, Inc., the independent inspector of elections for the
special meeting, 20,693,113 shares were voted for the acquisition
of Topps by Tornante and MDP, representing approximately 53.4% of
the 38,772,803 Topps shares outstanding as of the record date for
the special meeting. Shares representing approximately 65.6% of the
31,558,483 shares that were present at the special meeting (which
present shares include the shares held by Crescendo Partners) were
voted for the acquisition of Topps by Tornante and MDP, meaning
that the stockholders whose shares were represented at the special
meeting approved the transaction by approximately a two to one
margin. About The Topps Company, Inc. Founded in 1938, Topps is a
leading creator and marketer of sports and related cards,
entertainment products, and distinctive confectionery. Topps
entertainment products include Major League Baseball, NFL, NBA and
other trading cards, sticker album collections, and collectible
games. The Company's confectionery brands include "Bazooka" bubble
gum, Ring Pop," "Push Pop," Baby Bottle Pop" and "Juicy Drop Pop"
lollipops. For additional information, visit http://www.topps.com/.
Forward Looking Statements This release may contain
"forward-looking statements," as such term is defined in the
Private Securities Litigation Reform Act of 1995. Although Topps
believes the expectations contained in such forward- looking
statements are reasonable, it can give no assurance that such
expectations will prove to be correct. This information may involve
risks and uncertainties that could cause actual results to differ
materially from the forward-looking statements. Factors that could
cause or contribute to such differences include, but are not
limited to, factors detailed in Topps' Securities and Exchange
Commission filings available at http://www.sec.gov/, the SEC's Web
site. Free copies of Topps' SEC filings are also available on
Topps' Web site at http://www.topps.com/ or by contacting the
company's proxy solicitor, Mackenzie Partners, Inc. at . Investors:
Betsy Brod / Lynn Morgen MBS Value Partners, LLC 212-750-5800 Dan
Burch / Dan Sullivan Mackenzie Partners, Inc. 212-929-5940 /
1-800-322-2885 Media: Joele Frank / Sharon Stern Joele Frank,
Wilkinson Brimmer Katcher 212-355-4449 DATASOURCE: The Topps
Company, Inc. CONTACT: Investors, Betsy Brod or Lynn Morgen, of MBS
Value Partners, LLC, +1-212-750-5800; Dan Burch, +1-212-929-5940,
or Dan Sullivan, +1-800-322- 2885, both of Mackenzie Partners,
Inc.; Media, Joele Frank or Sharon Stern, of Joele Frank, Wilkinson
Brimmer Katcher, +1-212-355-4449 Web site: http://www.topps.com/
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