Kenner Parker Toys has opened negotiations with...

Kenner Parker Toys has opened negotiations with unspecified parties interested in acquiring the company at a price exceeding New World Entertainment’s hostile bid of $47 a share. The Beverly, Mass.-based company reported to the Securities and Exchange Commission that its board decided to defer plans for a recapitalization pending the outcome of the negotiations. The directors of the nation’s third-largest toy maker also said it “is unable at the present time to take a position with respect to the $47-per-share offer of New World.”