Hannah Montana meets Iron Man? You bet. The Walt Disney Co. today announced it is purchasing Marvel Entertainment–and its 5,000 characters–for $4bn in stock and cash. The AP has more:
Analyst David Joyce of Miller Tabak & Co. said the acquisition will help Disney appeal to young men who have flocked to theatres to see Marvel’s superhero fare in recent years. That contrasts with Disney’s recent successes among young women with such fare as “Hannah Montana” and the Jonas Brothers.
“It helps Disney add exposure to a young male demographic it had sort of lost some balance with,” Mr. Joyce said, noting the $4-billion offer was at “full price.”
Disney said Marvel shareholders will receive $30 per share in cash, plus 0.745 Disney shares for every Marvel share they own. That values each Marvel share at $50 based on Friday’s closing stock prices.
Marvel shares jumped $10.17, or 26 per cent, to $48.82 shortly after the market opened. Disney shares fell 47 cents, or 1.8 per cent, to $26.37.
For the full list of Marvel characters that are now going Disney, click here.