Disney to Acquire Marvel

Upcoming Walt Disney vacations are going to get more colorful, as the Walt Disney Company has agreed to acquire Marvel Entertainment, Inc. in a stock and cash transaction. So don't be surprised if you see Captain America roaming the Hall of Presidents, or the Silver Surfer hanging 10 at Typhoon Lagoon.

"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," said Robert A. Iger, president and CEO of The Walt Disney Company. "Ike Perlmutter and his team have done an impressive job of nurturing these properties and have created significant value. We are pleased to bring this talent and these great assets to Disney."

Under the deal, Disney will acquire ownership of Marvel including its more than
5,000 Marvel characters. The Boards of Directors of Disney and Marvel have each approved the transaction, which is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act, certain non-United States merger control regulations, effectiveness of a registration statement with respect to Disney shares issued in the transaction and other customary closing conditions. The agreement will require the approval of Marvel shareholders. Marvel was advised on the transaction by BofA Merrill Lynch.

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