NEW YORK, Sept. 25 /PRNewswire-FirstCall/ -- The Topps Company, Inc. today announced that the results from the Company's September 19, 2007 special meeting of stockholders have been tabulated and certified, and the acquisition of Topps by The Tornante Company LLC and Madison Dearborn Partners, LLC (MDP) has been approved by Topps' stockholders. The transaction will close promptly after the satisfaction of certain remaining conditions, which is anticipated to occur in October.
As certified by IVS Associates, Inc., the independent inspector of elections for the special meeting, 20,693,113 shares were voted for the acquisition of Topps by Tornante and MDP, representing approximately 53.4% of the 38,772,803 Topps shares outstanding as of the record date for the special meeting. Shares representing approximately 65.6% of the 31,558,483 shares that were present at the special meeting (which present shares include the shares held by Crescendo Partners) were voted for the acquisition of Topps by Tornante and MDP, meaning that the stockholders whose shares were represented at the special meeting approved the transaction by approximately a two to one margin.
About The Topps Company, Inc.
Founded in 1938, Topps is a leading creator and marketer of sports and related cards, entertainment products, and distinctive confectionery. Topps entertainment products include Major League Baseball, NFL, NBA and other trading cards, sticker album collections, and collectible games. The Company's confectionery brands include "Bazooka" bubble gum, Ring Pop," "Push Pop," Baby Bottle Pop" and "Juicy Drop Pop" lollipops. For additional information, visit http://www.topps.com/.
Forward Looking Statements
This release may contain "forward-looking statements," as such term is defined in the Private Securities Litigation Reform Act of 1995. Although Topps believes the expectations contained in such forward- looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. This information may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, factors detailed in Topps' Securities and Exchange Commission filings available at http://www.sec.gov/, the SEC's Web site. Free copies of Topps' SEC filings are also available on Topps' Web site at http://www.topps.com/ or by contacting the company's proxy solicitor, Mackenzie Partners, Inc. at
Investors: Betsy Brod / Lynn Morgen MBS Value Partners, LLC 212-750-5800 Dan Burch / Dan Sullivan Mackenzie Partners, Inc. 212-929-5940 / 1-800-322-2885 Media: Joele Frank / Sharon Stern Joele Frank, Wilkinson Brimmer Katcher 212-355-4449
