NEWS

Jakks receives additional takeover bid from ‘mystery’ party

Published on: 9th September 2019

The new offer was made at an indicated price of between $0.85 to $0.90 per share.

Last Thursday, The Los Angeles Times reported that Alleghany Corp., Jazwares’ parent company, had made an offer to buy Jakks Pacific for 80 cents a share.

On Friday, Jakks announced that it had received an additional non-binding expression of interest to acquire the company. In a statement, Jakks confirmed that it continued to engage in discussions with what it referred to as “another party” that had previously made a non-binding proposal to acquire all of the shares of the Company’s common stock for an indicated price of $0.80 per share.

The statement went on to say that Jakks has engaged in discussions with the interested parties, along with its advisors, regarding the  proposals and furnished due diligence information.

The discussions are said to be in their early stages and no agreements or understandings have yet been reached with the proposals.

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