WowWee chiefs to take over parent

WowWee is set to become a private company again, after founders, the Yanofsky brothers, launched a takeover of its parent.
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The Yanofskys - Richard, president of WowWee Canada - and Peter, president of WowWee USA, have set up a company to buy out the current shareholders of the Optimal Group, of which WowWee is a wholly-owned subsidiary, and have the support of Optimal's directors.

If it goes through, Optimal will go from being a public to a
private company.

The offer of $2.40 per share represents a premium of approximately 50 per cent over the closing price of the Class "A" shares of $1.60 on the NASDAQ, on March 16, 2010.

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