Well it’s finally official – Disney now owns Marvel. Whilst it was announced that Disney was purchasing Marvel months ago, there was still one more technical hurdle to jump before the merger was complete – Marvel stockholders needed to approve the purchase: an approval which they gave today.
Marvel Stockholders approved the adoption of the Agreement and Plan of Merger entered into by Marvel and The Walt Disney Company, 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 2nd, 2009.
