Aug 31, 2009

Disney Pays $4 Billion for Marvel

Spiderman's Peter Parker and Tony Stark have a new home: they’ll be joining Mickey Mouse himself at Disneyland.

Walt Disney Co. has bought Marvel Entertainment Inc. for a whopping $4 billion in stock and cash. That means 5,000 characters – some created by legend Stan Lee - will be moving ship from the comic book company to the cartoon powerhouse. Even the X-Men are making the move.

On the business end, shareholders will receive $30 per share in cash plus 0.745 Disney shares for every Marvel share they own. The sale has been approved by the boards of both Disney and Marvel, but not Marvel’s shareholders. The deal will also be subjected to an antitrust review.

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