Disney Completes Marvel Acquisition
4 Jan 2010
Burbank, California, December 31, 2009 — Advancing its strategy of delivering great branded content to people around the world, Robert A. Iger, President and Chief Executive Officer of The Walt Disney Company (NYSE:DIS) announced today that Disney has completed its acquisition of renowned character franchise company, Marvel Entertainment Inc (NYSE:MVL).
"We're thrilled to welcome to the Disney family the talented team at Marvel," said Iger. "We believe the creative and business potential of this combination is substantial and can help us grow both our top and bottom line, leading to a significant increase in long-term shareholder value."
Under the terms of the agreement and based on the closing price of Disney on Thursday, December 31, Marvel shareholders will receive a total of $30 a share in cash plus approximately 0.7452 Disney shares for each Marvel share they own.
Marvel's assets include a library of over 5,000 characters featured in a variety of media over 70 years and businesses, including licensing, movie production and publishing.