Breaking News: TOMY to Buy RC2

TOMY to Buy RC2

It was just announced that Japan’s Tomy plans to buy RC2 Corp. for about $600 million. Tomy is expected to make an announcement tomorrow.

Reuters reported that shares of RC2 soared nearly 26 percent to $27.59 their highest in more than three years. The shares later dropped some of the gains to trade up 15 percent at $25.29, says Reuters. The deal amount reported by the Nikkei would value RC2 at about $28 a share.