Michael Eisner's Tornante Company and Madison Dearborn Partners, the companies that have offered to acquire trading card/candy company (and WizKids parent) Topps, issued a statement on Monday indicating that there would be no increase in their offer price for the company, saying that the $9.75 per share offer was 'more than a full and fair price.'
'If Topps shareholders feel differently and vote against our deal this week, we wish them well, but our price is final and we will not increase it,' the statement said.
The special shareholders meeting to vote on the offer is scheduled for this Wednesday, and there's little unanimity on whether shareholders should vote for the deal (see 'Dueling Proxy Advisories in Topps Deal').
In a positive sign, a 7% shareholder, Mario Gabelli, said that he would vote for the deal. Reuters reported on Tuesday that four of eight major institutional shareholders had indicated that they 'may' support the deal.
The stock closed on Tuesday at $9.25, indicating that traders are not confident the deal will close.