Jakks Pacific Inc. on Monday said that Oaktree Capital Management LP had ended negotiations related to a $250 million potential takeover of the Malibu toymaker.

Jakks rejected the $20-a-share offer from the downtown Los Angeles private equity firm in October, but it agreed in April to talk with Oaktree. However, Jakks wanted Oaktree to sign a standstill agreement to stop accumulating shares during talks. It also wanted a confidentiality agreement before it would open its books, which Jakks said would show the bid was undervaluing the company.

In a filing with the U.S. Securities and Exchange Commission, Jakks said it received a letter from Oaktree saying the private equity firm could not proceed with talks under conditions imposed by Jakks, but was not specific.

“We are unwilling to accept the terms you have insisted be included in such an agreement,” said B. James Ford, managing director of Oaktree’s Global Pacific Group, in the letter. “We continue to believe that, with a reasonable level of cooperation, we can offer the company’s shareholders a compelling alternative.”

Neither company disclosed the issues that brought discussions to an impasse.

Jakks shares closed down 24 cents, or 1.3 percent, to $18.29 on the Nasdaq.

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