In a somewhat mystifying development, renowned distressed debt investor Oaktree Capital Group LLC (NYSE:OAK) has proposed a revised confidentiality and standstill merger agreement to toy-maker JAKKS Pacific, Inc. (NASDAQ:JAKK). It may be noted that takeover negotiations between the two parties failed in June after a hostile takeover attempt by Oaktree Capital Group LLC (NYSE:OAK), following the rejection of its $20 a share offer that would have valued the deal at $670 million. JAKKS Pacific, Inc. (NASDAQ:JAKK) had also adopted a poison pill defense, to ward off the takeover. Talks were held between the two at the behest of investor Clinton Group Inc., but failed. Read…
Oaktree’s Makes Merger Overtures To Jakks – Again
HFA Staff
The post above is drafted by the collaboration of the Hedge Fund Alpha Team.