Wired News – JAKKS Receives Expression of Interest From Meisheng To Acquire 51% Ownership

LONDON, UK / ACCESSWIRE / January 29, 2018 / Active-Investors.com has just released a free research report on JAKKS Pacific, Inc. (NASDAQ: JAKK) (“JAKKS”). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=JAKK as the Company’s latest news hit the wire. On January 26, 2018, the Company declared that it had received a proposal from Hong Kong Meisheng Cultural Co. Ltd, a wholly-owned subsidiary of Meisheng Cultural and Creative Corp. (collectively, “Meisheng”), to acquire additional shares of JAKKS common stock for $2.95 per share. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, JAKKS Pacific most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Details of the Proposal

The transaction is subject to due diligence and approval by Meisheng’s Board of Directors, shareholders, and Chinese regulatory authorities. Meisheng is likely to fund the transaction through a combination of existing cash on hand and other financing sources required for the restructuring or refinancing of JAKKS’ outstanding senior convertible senior notes. JAKKS’ Board of Directors has authorized a Special Committee of Independent Directors to evaluate the proposal.

Upon completion of the transaction, Meisheng’s shareholdings and voting rights would increase to 51%. Currently, Meisheng owns 5,239,538 shares of JAKKS common stock which constitutes 18% of JAKKS issued and outstanding shares of common stock.

Meisheng Acquired Equity Stake in JAKKS in 2017

In March 2017, JAKKS entered into an agreement with Meisheng to sell 3,660,891 million shares of its common stock to Meisheng for a total purchase price of $19.3 million. The deal helped JAKKS to expand its market share in Asia, and especially in China. Post the transaction, Xiaoqiang Zhao, Executive Director of Hong Kong Meisheng and Chairman of the Board of Meisheng Culture, joined JAKKS as a member of the Board of Directors. Reports suggest that in February 2017, Meisheng announced the acquisition of 1,387,647 shares of JAKKS’ common stock in open market transactions.

Joint Venture Partners in Two Jointly-Owned Companies

In November 2014, JAKKS and Meisheng entered into a joint venture to provide certain JAKKS licensed and non-licensed toys and consumer products to agreed-upon territories of the People’s Republic of China. In October 2016, JAKKS launched a newly formed business unit, Studio JP, a division dedicated to creating and developing original, multiplatform computer-generated animated content, in a joint venture with China’s Meisheng’s animation studio, Rising Anime. Studio JP develops new animation content owned by JAKKS and Meisheng.

About JAKKS Pacific, Inc.

Founded in 1995 and headquartered in Santa Monica, California, JAKKS is a leading designer, manufacturer, and marketer of toys and consumer products sold throughout the world. The Company’s popular proprietary brands include BIG-FIGS™, XPV®, Max Tow™, Disguise®, Moose Mountain®, Funnoodle®, Maui®, Kids Only!®, and C’est Moi.

About Meisheng Cultural and Creative Corp.

Established in 2002, Meisheng is a China-based modern private enterprise which specializes in making cartoons, as well as developing and designing animation derivatives. The Company specializes in producing the animation creative jewelry and festival accessories.

Stock Performance Snapshot

January 26, 2018 – At Friday’s closing bell, JAKKS Pacific’s stock advanced 1.92%, ending the trading session at $2.65.

Volume traded for the day: 2.64 million shares, which was above the 3-month average volume of 190.52 thousand shares.

Stock performance in the last month – up 12.77%; and year-to-date – up 12.77%

After last Friday’s close, JAKKS Pacific’s market cap was at $74.54 million.

The stock is part of the Consumer Goods sector, categorized under the Toys & Games industry. This sector was up 0.6% at the end of the session.

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