Walt Disney in US$4bn takeover of Marvel Entertainment
The Walt Disney Company is to buy Marvel Entertainment in a stock and cash transaction valuing the company at approximately US$4bn (£2.5bn, 2.8bn euro).
Under the terms of the agreement and based on the closing price of Disney on 28 August, Marvel shareholders would receive a total of US$30 per share in cash plus about 0.745 Disney shares for each Marvel share they own, making the transaction value US$50 per Marvel share. Robert A. Iger, President and Chief Executive Officer of The Walt Disney Company said: "We believe that adding Marvel to Disney's unique portfolio of brands provides significant opportunities for long-term growth and value creation."
The deal will see Disney assuming ownership of Marvel, plus intellectual property rights to more than 5,000 characters including Iron Man, Spider-Man, X-Men, Captain America, Fantastic Four and Thor (pictured). Ike Perlmutter, Marvel's Chief Executive Officer, will oversee the Marvel properties and work to integrate them into the Disney portfolio. While the boards of directors of both Disney and Marvel have approved the transaction, it is still subject to regulatory clearance by the US authorities and the approval of Marvel shareholders.
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