Monday, August 31, 2009

Disney to buy Marvel

Disney to buy Marvel for $4 bln
Stock and cash deal to combine character library
By Paul Bond and Georg Szalai
Aug 31, 2009, 09:39 AM ET
Disney has agreed to acquire Marvel Entertainment for $4 billion.

Under the terms of the deal, Marvel shareholders would receive $30 per share in cash plus about 0.745 Disney shares for each Marvel share.
Overall, the deal is valued at $50 per Marvel share as of Friday's closing price.

"We believe that adding Marvel to Disney's unique portfolio of brands provides significany opportunities for long-term growth and value creation," said Disney CEO Robert Iger.

"Disney is the perfect home for Marvel's fantastic library of characters given its proven ability to expand content creation and licensing businesses," said Marvel CEO Ike Perlmutter.

Both companies' board have approved the deal. It now requires antitrust and Marvel shareholder approval.

No comments:

Post a Comment