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Marvel Stockholders Approve Disney Merger
Reported by Jay Cochran - 08:42 AM 2009.12.31
Marvel Entertainment, Inc., a global character-based entertainment and licensing company founded in 1939, announced that at a special meeting held this morning, Marvel stockholders approved the adoption of the Agreement and Plan of Merger entered into by Marvel and The Walt Disney Company (“Disney”), which provides for a merger in which Marvel will become a wholly-owned subsidiary of Disney. Marvel anticipates that the merger, which, based on the closing price of Disney’s common stock on December 30, 2009, has an estimated value of approximately $4.3 billion, will be completed today after the close of the market.
The completion of the merger is subject to satisfaction of remaining conditions disclosed in the definitive proxy statement/prospectus filed by Disney with the Securities and Exchange Commission pursuant to Rule 424 on December 2, 2009. MORE NEWS
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