Against the Topps Deal
Read the full article at: http://www.gannononinvesting.com/2007/03/against_the_topps_deal.html
Submitted by Geoff on Thu, 2007-03-15 09:28.
(via www.gannononinvesting.com)
The long awaited Topps post at Gannon On Investing is finally here. Other people have written about Topps (TOPP) and several of them have done a good job. But, at about 5,000 words (you've been warned!) I hope this will be one of the more detailed looks at Topps and the Eisner offer. As the title suggests, this post is strongly critical of the $9.75 a share offer.
Great work Geoff. Why do
Great work Geoff. Why do you have such interest in this particular situation? Do you have a position in TOPP?
No Stake in Topps
No – no position in Topps. It's just the kind of company I like to follow and so I decided to write the original post announcing the deal. But, then, as I was writing the post, news broke about the opposition to the deal, the letter was made public, etc. So, I said I would look into the situation and write some more about it. In the meantime, I got a lot of emails from Topps shareholders and some other bloggers started writing about the situation. It just snowballed. The length of the post grew and grew as I looked at the financials, listened to the conference call, etc. and tried to put my thoughts into words.
I'm glad it snowballed. I
I'm glad it snowballed. I enjoyed reading your blog post. It is an interesting situation.