Disney buys Marvel for $4B US
Last Updated: Monday, August 31, 2009 | 10:31 PM ET
The Associated Press
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The Walt Disney Co. says it is acquiring Marvel Entertainment Inc. for $4 billion US in cash and stock, bringing characters like Iron Man and Spider-Man into the Disney family.
Under the deal, Disney will acquire ownership of 5,000 Marvel characters.
Disney said Monday that Marvel shareholders will receive $30 per share in cash plus 0.745 Disney shares for every Marvel share they own.
It said the boards of Disney and Marvel have both approved the transaction, but it requires an antitrust review and the approval of Marvel shareholders.
© The Canadian Press, 2009
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