One hurdle has been cleared in the proposed sale of the Topps company.
The Associated Press reports that Federal antitrust regulators have approved the purchase of Topps Co. Inc. by private equity firms Madison Dearborn Partners and the Tornante Company, led by former Walt Disney Co. executive Michael Eisner.
According to a Federal Trade Commission notice, the government completed its investigation of the sale and ended a waiting period on the transaction.
Topps announced the $385.4 million sale March 6. The transaction will require shareholder approval, and some shareholders who had recently won spots on the Board of Directors at Topps said they were against the deal when it was announced. The company said the sale could close in the third quarter.
Unopened Topps and Upper Deck card boxes on eBay