Against the Topps Deal
Against the Topps Deal
(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.