Marvel Closes Out 2009 by Finalizing Disney Merger
In a special meeting this morning, Marvel Stockholders approved the merger with Walt Disney Company. The deal is expected to be completed by the end of the day.
New York, New York – December 31, 2009 — 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 .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.
Source: Marvel Corporate Press Release
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Posted originally: 2009-12-31 13:20:18