Tuesday, September 1, 2009

Disney to acquire Marvel


Walt Disney Co said on Monday it plans to buy Marvel Entertainment Inc for US$4 billion (RM14.12 billion) in a deal that would add characters like Iron Man, Spider-Man, and the Fantastic Four to its entertainment empire.


The cash and stock deal values Marvel at US$50 per share, or a premium of 29% to Marvel's closing stock price of US$38.65 last Friday. The deal has been approved by the boards of both companies.


Marvel's shares shot up to US$48.70 in premarket trade. Shares of Disney, which will acquire ownership more than 5,000 Marvel characters, dropped about 3% in premarket trade.


Marvel shareholders would receive a total of US$30 per share in cash plus approximately 0.745 Disney shares for each Marvel share they own.

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