Gamco, Gabelli up stake, agree to vote Topps shares in favor of merger

By Lisa Kerner

Charlotte, N.C., Sept. 18 - Investors led by Gamco Asset Management Inc. and Gabelli Funds, LLC bought an additional 280,000 shares of the Topps Co., Inc., according to a schedule 13D filing with the Securities and Exchange Commission.

The shares were purchased between July 16 and Sept. 13 and priced from $9.19 to $10.24 per share.

Gamco and Gabelli informed Topps that to the extent that they have voting power, they will be voting in favor of the proposed merger with the Tornante Co. LLC and Madison Dearborn Partners, LLC at the special meeting of shareholders on Wednesday, the filing stated.

The reporting persons own 2,766,967 shares, or 7.14%, of the New York-based sports cards and entertainment products company.

It was previously reported that Topps rescheduled its meeting to Wednesday, and the record date for the meeting is Aug. 10. The merger agreement gives Topps shareholders $9.75 cash per share.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.