Breaking: Disney To Acquire Marvel Entertainment For $4 Billion

Micky and Pluto have some new friends in Spider-man and Iron Man.  In news that would of been a bombshell at the just ended Fan Expo (with no indication this was in the works), The Walt Disney Company has agreed to acquire Marvel Entertainment.

This morning the companies announced the deal would be done in a stock and cash transaction.  Under the terms of the agreement and based on last week’s closing price of Disney, Marvel shareholders would receive a total of $30 per share in cash plus approximately 0.745 Disney shares for each Marvel share they own.  Based on the closing price of Disney stock on Friday, August 28, the total transaction value is $50 per Marvel share or approximately $4 billion.

The deal has been approved by the boards of both companies.  Disney will acquire Marvel’s deep portfolio of over 5,000 characters.

In a statement by Disney CEO Robert A. Iger:

“We believe that adding Marvel to Disney’s unique portfolio of brands provides significant opportunities for long-term growth and value creation.”

Ike Perlmutter, Marvel’s CEO, added:

“Disney is the perfect home for Marvel’s fantastic library of characters given its proven ability to expand content creation and licensing businesses. This is an unparalleled opportunity for Marvel to build upon its vibrant brand and character properties by accessing Disney’s tremendous global organization and infrastructure around the world.”

Mr. Perlmutter will oversee the Marvel properties, and will work directly with Disney’s global lines of business to build and further integrate Marvel’s properties.