By Lisa Kerner
Charlotte, N.C., Aug. 31 - Walt Disney Co. announced it will acquire Marvel Entertainment, Inc. in a cash-and-stock transaction valued at $50 per Marvel share, or about $4 billion, based on Friday's closing stock prices.
Marvel stockholders will receive $30 per share in cash plus approximately 0.745 Disney shares for each Marvel share they own, according to a Disney news release.
Disney will acquire ownership of more than 5,000 Marvel characters in the deal.
"This transaction combines Marvel's strong global brand and world-renowned library of characters including Iron Man, Spider-Man, X-Men, Captain America, Fantastic Four and Thor with Disney's creative skills, unparalleled global portfolio of entertainment properties, and a business structure that maximizes the value of creative properties across multiple platforms and territories," Disney president and chief executive officer Robert A. Iger said in the release.
Marvel CEO Ike Perlmutter will oversee the Marvel properties.
Both companies' boards of directors have approved the deal, which requires approval by Marvel stockholders to close.
Marvel Entertainment is a character-based entertainment and licensing company based in New York.
Disney, based in Burbank, Calif., is a diversified family entertainment and media company.
| Acquirer: | Walt Disney Co.
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| Target: | Marvel Entertainment, Inc.
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| Announcement date: | Aug. 31
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| Transaction total: | $4 billion
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| Price per share: | 0.745 Disney shares and $30.00 cash
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| Expected closing: | Upon approvals
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| Stock price for acquirer: | NYSE: DIS: $26.84 on Aug. 28
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| Stock price for target: | NYSE: MVL: $38.65 on Aug. 28
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