I'm completely speechless about this. It's a complete upside down world situation.
*Please, please, don't let Captain America's new costume have mouse ears*
http://www.newsarama.com/comics/0908...re-marvel.html
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Originally Posted by NEWSARAMA
URBANK, Calif. & NEW YORK, Aug 31, 2009 (BUSINESS WIRE) -- --Acquisition highlights Disney's strategic focus on quality branded content, technological innovation and international expansion to build long-term shareholder value
--An investor conference call will take place at approximately 10:15 a.m. EDT / 7:15 a.m. PDT August 31, 2009. Details for the call are listed in the release.
Building on its strategy of delivering quality branded content to people around the world, The Walt Disney Company /quotes/comstock/13*!dis/quotes/nls/dis (DIS 26.64, -0.20, -0.75%) has agreed to acquire Marvel Entertainment, Inc. /quotes/comstock/13*!mvl/quotes/nls/mvl (MVL 49.03, +10.38, +26.86%) in a stock and cash transaction, the companies announced today.
Under the terms of the agreement and based on the closing price of Disney on August 28, 2009, Marvel shareholders would receive a total of $30 per share in cash plus approximately 0.745 Disney shares for each Marvel share they own. At closing, the amount of cash and stock will be adjusted if necessary so that the total value of the Disney stock issued as merger consideration based on its trading value at that time is not less than 40% of the total merger consideration.
Based on the closing price of Disney stock on Friday, August 28, the transaction value is $50 per Marvel share or approximately $4 billion.
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