Marvel Stockholders Approve Disney Merger
December 31 2009 - 8:25AM
Business Wire
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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