JAKK's Pacific (JAKK) Pops Higher as Oaktree Feigns Interest...Again
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JAKK's Pacific (Nasdaq: JAKK) is ticking higher Friday following an SEC 8-K filing made Thursday night disclosing that Oaktree Capital might not be done eying the company after all.
JAKK's said discussions were initially terminated on June 15, 2012, with respect to a possible transaction between the companies. However, on August 13th, 2012, JAKK's received a letter from Oaktree showing that the firm submitted a revised draft to a proposed confidentiality and standstill agreement and that the firm was looking to resolve and impasse that halted discussions before.
Further, the firm noted that it sold out of its JAKK's holding, making the attempt at a resolution rather contradictory.
Oaktree initially made a $20 per share bid in 2011.
Shares of JAKK's are up over 2 percent in early trade.
JAKK's said discussions were initially terminated on June 15, 2012, with respect to a possible transaction between the companies. However, on August 13th, 2012, JAKK's received a letter from Oaktree showing that the firm submitted a revised draft to a proposed confidentiality and standstill agreement and that the firm was looking to resolve and impasse that halted discussions before.
Further, the firm noted that it sold out of its JAKK's holding, making the attempt at a resolution rather contradictory.
Oaktree initially made a $20 per share bid in 2011.
Shares of JAKK's are up over 2 percent in early trade.
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