LeapFrog "worth a lot more than $1 a share" states MGA founder, as he readies fresh bid - ToyNews

LeapFrog "worth a lot more than $1 a share" states MGA founder, as he readies fresh bid

LeapFrog declined MGA's first offer last month, choosing instead to be acquired by VTech Holdings.
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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'.

Related

VTech acquires LeapFrog for $72m

"The acquisition will allow us to offer the broadest portfolio of products that enhance the education and development of children,” said Allan Wong, VTech’s chief executive officer.

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