January 26, 2018 / 11:05 AM / 6 months ago

BRIEF-JAKKS Pacific Announces Receipt Of Expression Of Interest From Meisheng To Acquire 51 Pct Of Shares

Jan 26 (Reuters) - Jakks Pacific Inc:

* JAKKS PACIFIC ANNOUNCES RECEIPT OF EXPRESSION OF INTEREST FROM MEISHENG TO ACQUIRE 51% OF SHARES

* JAKKS PACIFIC INC - PROPOSAL VALUED AT $2.95 PER SHARE

* JAKKS PACIFIC - ‍BOARD OF DIRECTORS OF CO HAS AUTHORIZED A SPECIAL COMMITTEE COMPRISED SOLELY OF INDEPENDENT DIRECTORS TO EVALUATE EXPRESSION OF INTEREST​

* JAKKS PACIFIC- PROPOSAL STATES IS SUBJECT TO DUE DILIGENCE, MEISHENG INTENDS TO FUND DEAL THROUGH COMBINATION OF EXISTING CASH ON HAND/OTHER SOURCES

* JAKKS PACIFIC - ‍HONG KONG MEISHENG CURRENTLY OWNS 5.2 MILLION SHARES OF CO'S COMMON STOCK CONSTITUTING 18 PERCENT OF CO'S SHARES OF COMMON STOCK​ Source text for Eikon: Further company coverage:

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