Reluctant Toy Maker Agrees To Talk Takeover With Oaktree

Law360, New York (April 24, 2012, 5:23 PM EDT) -- Jakks Pacific Inc. will meet with private equity firm Oaktree Capital Management LP about a possible takeover, the toy maker said Monday, an abrupt about-face meant to appease antsy investors after Oaktree reiterated its interest in acquiring the company last week.

California-based Jakks will also buy back at least $80 million of its shares for at least $20 each — effectively setting a price floor for negotiations with Oaktree — and will add two independent directors to its board, the company said in a statement....
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