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Official Press Release
Worldwide leader in family entertainment agrees to acquire Marvel and its portfolio of over 5,000 characters
BURBANK, Calif. & NEW YORK, Aug 31, 2009 (BUSINESS WIRE) -- --Acquisition highlights
Disney's strategic focus on quality branded content, technological innovation and international expansion to build long-term shareholder value
Building on its strategy of delivering quality branded content to people around the world,
The Walt Disney Company (DIS) has agreed to
acquire Marvel Entertainment, Inc. (MVL) in a stock and cash transaction, the companies announced today.
Under the terms of the agreement and based on the closing price of
Disney on August 28, 2009,
Marvel shareholders would receive a total of
$30 per share in cash plus approximately 0.745
Disney shares for
each Marvel share they own. At closing, the amount of cash and stock will be adjusted if necessary so that the total value of the
Disney stock issued as merger consideration based on its trading value at that time is not less than 40% of the total merger consideration.
Based on the closing price of
Disney stock on Friday, August 28, the transaction value is
$50 per
Marvel share or approximately
$4 billion!
Under the deal,
Disney will acquire ownership of Marvel including its more than 5,000 Marvel characters. Ike Perlmutter will oversee the
Marvel properties, and will work directly with
Disney's global lines of business to build and further integrate
Marvel's properties.
My opinion...With
Disney's control of tv networks
ABC,
ABC Family, and
Disney Channel, and of course, experience in theme parks, I think we can
finally expect to see Marvel multi-media properties developed properly. (Remember the
MarvelMania restaurant chain?)
Time-Warner's synergy with
DC Comics has resulted in major media successes in film, tv, and theme parks!
Disney should be able to match that
easily!