Oaktree Offers $670M for Jakks Pacific

Buyout firm Oaktree Capital Management Funds sent a letter to toymaker Jakks Pacific Tuesday outlining its intention to buy the company for $670 million, Reuters reported Wednesday. Los Angeles-based Oaktree first made the offer in March and has been rebuffed by the company repeatedly. Oaktree said it would raise its offer if Jakks could "demonstrate to us further value over the course of our due diligence process," Reuters wrote, quoting the letter.

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