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Marvel calls shareholders to vote on Disney takeover

Indiantelevision.com Team

(2 December 2009 10:40 pm)

MUMBAI: Marvel Entertainment Inc has called a special meeting of shareholders in New York on 31 December to decide on its takeover.

Marvel shareholders will vote on the planned takeover by The Walt Disney Co.

The company announced that the stockholders on record as of 23 November will be able to vote at the meeting.

Marvel said the deal will close on 31 December if shareholders approve it.

In August, Walt Disney had announced it is buying the comic publishing giant Marvel Entertainment in a $4 billion deal that will add characters like Spider-man, Iron Man and the X Men into the Mickey Mouse family.

As per the deal, Marvel shareholders will receive $30 per share in cash, plus 0.745 Disney shares for every Marvel share they own. The transaction will be subject to approval by Marvel's shareholders.