Disney to buy Marvel for $4 b
The Walt Disney Company, on Monday, said that it would buy the comic book giant Marvel Entertainment for about $4 billion.
Under the terms of the deal, Marvel shareholders will receive a $30 a share in cash plus about 0.745 Disney shares for each Marvel share they own. The boards of both companies have approved the deal, which was valued at $50 a share. With the acquisition, Disney will acquire more than 5,000 Marvel characters, including Spider-Man, Iron Man, Captain America, Hulk and the X-Men.
“We believe that adding Marvel to Disney’s unique portfolio of brands provides significant opportunities for long-term growth and value creation,” the chief executive of Disney, Robert A Iger, said in a statement. Ike Perlmutter, Marvel’s Chief Executive, will oversee the Marvel properties, and will work directly with Disney’s global lines of business to build and further integrate Marvel’s properties.
The acquisition comes as Disney, has been struggling because of soft advertising sales and drooping consumer spending at theme parks. Disney’s profit in the third quarter, which ended June 27, dropped 26 per cent.
