Investor Begins Bid for Lionel: New York...

Investor Begins Bid for Lionel: New York investor Robert I. Toussie began a hostile $145-million tender offer for Lionel Corp., the toy retailer that reorganized and emerged from bankruptcy in 1985. Robert I. Toussie L.P. said it began an offer of $8 a share in cash for up to 11.9 million of Lionel’s common shares. The offer is also for up to $34.8 million of the company’s bonds. The offer will expire Nov. 3, unless extended. Lionel said it asked shareholders to take no action on the offer until its board makes a recommendation on it. Toussie holds 9.9% of the New York-based firm.