JAKKS Pacific (JAKK) Approves $80M Common Tender; Updates on Board Changes, Oaktree Agreement
- Top 10 News for 03/03 - 03/07: Russia/Ukraine Tension Shakes Markets; Safeway Gets Official Bid; Bitcoin Founder 'Found'
- Icahn Plans to Use Facebook, Along with Twititer and Website to Communicate
- Nonfarm Payrolls Rose 175K in Feb., Led by Gains in Trade, Services
- Coupons.com (COUP) IPO Surges Higher
- Tesla (TSLA) Cuts Model S Price in Europe
JAKKS Pacific, Inc. (Nasdaq: JAKK) updates on the following actions:
- approved, subject to certain conditions, a tender offer to its shareholders to purchase common stock of the Company with an aggregate value of at least $80,000,000 at a price per share equal to at least $20.00 per share. The Company will use reasonable efforts to commence the self-tender offer no later than May 25, 2012,
- approved an increase in the number of directors from six to eight,
- approved the election of Peter Reilly as an independent director to fill one of the new board seats, and his appointment to the Nominating and Corporate Governance Committee and Audit Committee of the Board, and authorized the Company to conduct a search for an additional independent director, and
- authorized representatives of the Company to meet with Oaktree Capital Management, L.P. (“Oaktree”), and to provide Oaktree with information about the Company, which Oaktree has requested of the Company, subject to execution of a customary confidentiality agreement.
You May Also Be Interested In
- UPDATE: Elliott: Riverbed (RVBD) Buyback Evidence of 'Board's Entrenchment'
- JAVELIN Mortgage (JMI) Names Lead Independent Director, Lifts Buyback to 3M Shares
- UPDATE: MasterCard (MA), Visa (V) Form Payment Systems Group
Create E-mail Alert Related CategoriesCorporate News, Management Changes, Stock Buybacks
Related EntitiesClinton Group
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!