Jakks Pacific begins tender offer

Firm launches offer to buy up four million shares at $20 each from stockholders.
Publish date:
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Jakks Pacific has launched its offer to purchase up to four million shares at $20 per share from stockholders.

The company has said that shareholders requested the firm buy back stock.

Stock buyback programmes reduce the number of shares outstanding, which can boost per-share earnings and increase the value of shareholders' remaining stake. Buybacks can also reduce the possibility of takeover threats.

Investment firm Oaktree Capital Management had offered $20 per share last September to take the company private. Having initially rejected that offer, Jakks last month agreed to talk to Oaktree, which owned five per cent of Jakks' outstanding stock as of March 31st.

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