An investor group that includes not only wealthy businessmen but current and former professional athletes has completed its purchase of PSA’s parent company and installed one of its own as Executive Chairman of the company’s board of directors. Collectors Universe announced Monday that it had completed the $853 million deal that turns the company from public to … [Read more...]
Proposed Sale of PSA Parent Company Moves Ahead as Shareholders Accept $92 Offer
It appears the parent company of grading and authentication giant PSA will soon be privately owned. A majority of shareholders of Collectors Universe have agreed to tender their shares for $92 each, marking the acceptance of an $853 million bid by an investor group that includes entrepreneur/collector Nat Turner, New York Mets owner Steve Cohen and Charlotte Hornets minority … [Read more...]
2 Collectors Universe Shareholder Groups Opposed to Revised Deal
The ante has been upped but at least two of the larger shareholders of Collectors Universe stock still don't believe it’s enough to support acceptance of a buyout deal. Sean Berger, President of Adirondack Retirement Specialists, which owns over 271,000 shares representing an approximate 2.9% equity interest in CU, is telling his clients he believes the parent company of … [Read more...]
New Offer for PSA Parent Company: $853 Million
An investor group looking to purchase the parent company of PSA has upped its offer. The group, led by avid collector and entrepreneur Nat Turner and Cohen Private Ventures, announced Wednesday that they’ve entered into an agreement to purchase all outstanding shares of Collectors Universe for $92 per share. That represents a sizeable increase from the $75.25 … [Read more...]
PSA Parent Company Agrees to $700 Million Buyout Offer
Collectors Universe, parent company of PSA, is being sold to an investor group led by entrepreneur and sports card collector Nat Turner for approximately $700 million. D1 Capital Partners L.P., and Cohen Private Ventures, LLC will acquire all of the Company’s outstanding shares of common stock for $75.25 per share in cash. Cohen Private Ventures is oversees … [Read more...]
Notes: Signed Jordan RC Brings Six-Figure Price
An autographed 1986-87 Fleer Michael Jordan rookie card sold on eBay for a record $125,000 Wednesday afternoon. The card was graded 8.5 by Beckett with an autograph grade of 10. The sale was made on eBay. The card was one of 23 purchased on the secondary market by Upper Deck about 15 years ago. They were then autographed by Jordan and randomly inserted into … [Read more...]