Topps has agreed to be taken private for $9.75/share, or a 9.4% premium over Friday's close of $8.91. Shares of Topps are currently trading up in light pre-market activity to $9.66. The Tornante Co. LLC and Madison Dearborn Partners LLC, two private equity firms, will make the $385.4 million cash acquisition. Former Disney CEO Michael Eisner is the founder of Tornante. In a statement, Topps said it expects the deal to close in Q3 pending regulatory and shareholder approval. Eisner commented, "Topps is a wonderful company with a powerful brand portfolio and a rich history. Topps' management team and employees are the best in the business, and we look forward to working with all of them to grow the company in new and exciting ways."
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