Topps asks shareholders to vote for Tornante-Madison bid

Aug 17 (Reuters) - Topps Co. TOPP.O, a maker of baseball trading cards and Bazooka gum, urged its stockholders vote in favor of a bid by Madison Dearborn and Tornante Co. that was lower than a hostile bid by the Upper Deck Co.

Topps has not reached a consensual transaction with Upper Deck to date and the Tornante-Madison transaction is the only binding offer it received, Arthur Shorin, chief executive, said in a letter to shareholders before an Aug. 30 special shareholder meeting.

In March, Topps said it would be acquired by Tornante and private equity firm Madison Dearborn Partners for $385 million. In June, Upper Deck said it would launch a hostile tender offer to acquire Topps for about $425 million. (Reporting by John Tilak in Bangalore)