Shareholders chew on Eisner bid

Michael Eisner could be in store for a bit of a rumble. As noted earlier, his investment company, along with private equity firm Madison Dearborn Partners, have bid $9.50 a share for baseball card maker Topps Co., which is a problem because the stock is trading at close to $10 this morning. Late Monday, three out of seven Topps directors voted against the merger, saying that the company failed to shop itself to potential bidders before settling on the Eisner/Madison deal. Two hedge funds connected with those three directors are opposed to the sale. Topps will solicit better offers for the next 40 days, what's known as a "go shop" provision. By the way, this is believed to be Eisner's first bid for a public company. He's making the offer through his investment firm, Tornante Co. Smart Money