Sweet Suite 2016

VTech to Acquire LeapFrog in $72 Million Deal

VtechLFVTech will acquire 100 percent of the outstanding common stock of LeapFrog through an all-cash tender offer followed by a second-step merger. In the tender offer, VTech will offer LeapFrog investors $1.00 per share for LeapFrog’s Class A and Class B shares, which represents a 75.4 percent premium over the closing price of LeapFrog’s Class A shares on February 4, 2016. The total purchase consideration amounts to approximately $72 million. VTech will fund the tender offer through internal resources.

The tender offer will commence on or around March 3, 2016, and will be open for a minimum of 20 business days. The closing of the transaction is subject to satisfaction of certain conditions set forth in the merger agreement, which has been unanimously approved by the Boards of Directors of both companies. LeapFrog’s Board has agreed to unanimously recommend to its stockholders that they tender their shares of LeapFrog common stock pursuant to the tender offer. [Read more...]

Ruling Issued in Hasbro Arbitration

Hasbro logoPreviously, inventor licensor Johnson Research had brought claims against Hasbro based on two licensing agreements between the parties. One license agreement related to certain products included in Hasbro’s Super Soaker product line, while the other related to certain products included in Hasbro’s Nerf product line.

Johnson Research claimed that the license agreements require the payment of royalties by Hasbro on a significantly greater number of products in each of those respective product lines than the company believed was the case. The claims related to the Nerf products were pursued by the licensor in binding arbitration in Atlanta as was required by the license.

Johnson Research made a demand for arbitration with respect to the Nerf claims, and on October 29, the arbitrator issued a ruling awarding a total of $72,932,686, including damages, interest, fees and expenses, to the licensor. In connection with this ruling and applicable accounting requirements, Hasbro anticipates taking an additional charge to its earnings for the fiscal quarter that ended September 29. The company is currently assessing the impact to third quarter results and it will be reflected in its Form 10-Q for that same period.

The Toy Book Toy Report-10/5/09

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The Toy Book Toy Report-9/14/09

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The Toy Book Toy Report-9/21/09

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The Toy Book Toy Report-9/28/09

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