MGA Entertainment founder and CEO Isaac Larian is readying a fresh bid for LeapFrog, after his initial bid was rejected last month.
LeapFrog intead opted to go ahead with a deal to be acquired by VTech Holdings for $1 a share, but Larian, who claims to already own a “significant” amount of LeapFrog stock, believes the firm is worth more.
“I don’t think I’m the type of person who goes away fast,” Larian told Bloomberg.
“That company is worth a lot more than $1 a share, that’s for sure. The brand has a lot of value.”
LeapFrog raised doubts about Larian’s financing and how long a deal would take to be completed, stating ‘a significant delay in the completion of the merger could put at risk the ability of the company to continue operations’.