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JAKKs Pacific Confirms Indications Of Takeover Interest

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JAKKS Pacific, Inc. (NASDAQ: JAKK) says it has received an indication of interest to acquire all of the shares of the company's common stock for 85 cents-90 cents per share on a fully diluted basis.

On Thursday afternoon, Bloomberg reported Jakks Pacific received an offer from Alleghany.

Discussions are in the early stages and no agreements or understandings have been reached. The company and its advisors are engaged in discussions with the interested parties regarding the non-binding proposals.

“The Recapitalization transaction allowed us to continue to pursue our business objectives with renewed vigor and resolve,” said CEO Stephen Berman. “We remain committed to executing our business plan in the months and years ahead. At the same time, however, the company is exploring the alternative transactions described in this announcement."

Jakks Pacific shares were trading higher by 13.3% at 85 cents in Friday’s pre-market session. The stock has a 52-week high of $2.90 and a 52-week low of 51 cents.

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Posted-In: M&A News Penny Stocks Markets

 

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