The ink may still be drying on the contracts this morning, but for all other intents and purposes the marriage of Marvel Entertainment and the Walt Disney Company is a done deal. In the shareholder vote that was announced earlier this month, Marvel’s stock owners agreed to the plan to sell the company and its massive character library to the entertainment giant. By day’s end, the deal will go through at a value near $4.3 billion.
The newly found Disney subsidiary released a brief statement this morning confirming the vote, which will likely be the last word released from the company regarding what, if any, impact the merger will have on the Marvel Comics line. The statement is reprinted below.
Official Press Release
Marvel Entertainment, Inc. (NYSE: MVL), 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.
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