Oaktree Halts Jakks Talks Over Standstill Pact Terms

Law360, New York (June 18, 2012, 12:59 PM EDT) -- Buyout shop Oaktree Capital Management LP has stopped negotiations over a standstill agreement with toy maker Jakks Pacific Inc., according to a securities filing Monday, ending a 15-month tango between the newly public financial firm and its reluctant takeover target.

Oaktree told Jakks' board Friday that it would be willing to restart discussions under more acceptable terms, according to a letter from managing directors B. James Ford and Matthew Wilson filed with securities regulators Monday.

“We ... are unwilling to accept the terms that you have...
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