Walt Disney Company to acquire Marvel Entertainment
| Posted: Aug 31, 2009 | Updated: Oct 19, 2014 - 9:25:27 AM
The Walt Disney Company announced today that it will purchase Marvel Entertainment for $4 billion. The boards of both companies have approved the deal, so the last step is for Marvel shareholders to approve the transaction as well. If they do, they will each receive $30 per share in cash and 0.745 shares of Disney in exchange for each share of Marvel that they own.
"We believe that adding Marvel to Disney's unique portfolio of brands provides significant opportunities for long-term growth and value creation," said Disney Chief Executive Robert Iger.
Marvel Entertainment is a comic book and action hero company that is best known for Iron Man, Spider-Man, the X-Men and the Fantastic Four.