JAKKS Pacific Commences Self-Tender at $20 Per Share
JAKKS Pacific, Inc. (NASDAQ: JAKK) (the "Company") today announced that it has commenced an offer to its shareholders to purchase up to 4,000,000 shares of its common stock at a price of $20 per share.
Stephen Berman, Chief Executive Officer and President and a Director of the Company, commented that "The Board and management of JAKKS remain committed to their goal of maximizing shareholder value, and are confident that this self-tender is in furtherance of that goal."
The self-tender offer will expire at midnight, New York City time, on June 27, 2012, unless it is extended or withdrawn. The self-tender offer is not conditioned upon obtaining any minimum number of shares of common stock being tendered; however, it is subject to certain terms and conditions set forth in the offer to purchase for the self-tender and related materials that the Company will send to its shareholders.
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