Close×

Jakks Pacific has fielded two expressions of interest within days of each other, one reportedly coming from rival toy business Jazwares. 

According to a report by the LA Times on 05 September, Jazwares' parent company Alleghany Corp. made an offer to buy the business for 85 cents a share, according to sources close to the situation.

According to the publication Jakks had been, "exploring a sale amid a steep slide in its share price," and as reported by Toy & Hobby Retailer had fielded previous expressions of interest from Hong Kong Meisheng Cultural Company Limited.

Then on 09 September, Jakks released an official statement detailing that the business had received another expression of interest from a party that was willing to acquire the business for a price of between 85-90 cents per share. 

Jakks CEO and co-founder Stephen Berman said that business is considering all of its options. 

"As I have said, the recapitalisation transaction allowed us to continue to pursue our business objectives with renewed vigor and resolve.

"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," he said. 

However, the expressions of interest will remain just that for now and no guarantee can be given that any of the negotiations will result in a transaction. 

Watch this space. 

comments powered by Disqus