Topps Company fired back at Upper Deck, which withdrew its offer for Topps on Tuesday (see 'Upper Deck Says No to Topps'), charging that Upper Deck had used its tender offer 'as a Trojan horse to gain access to our confidential information, disrupt our business and interfere with our pending merger transaction, the consummation of which could threaten the success of your business.'  In the general spirit of acrimony, Topps also said that Upper Deck 'has misled our Board, our stockholders, the Delaware court and the regulators.'

Topps pushed back on Upper Deck's allegations that due diligence materials had been withheld, arguing that it had provided, made available, or agreed to provide copies prior to closing of all documents requested by Upper Deck.

Topps had filed a draft merger agreement with Upper Deck only a day before hearing that Upper Deck was withdrawing its tender offer.