Walt Disney Co. will purchase the comic book company behind X-Men and Spider-Man.
NEW YORK (CNNMoney.com) -- The Walt Disney Co. announced Monday that it has agreed to purchase comic book and action hero company Marvel Entertainment for about $4 billion.
If Marvel shareholders approve the deal, they would receive $30 per share in cash and 0.745 shares of Disney for each share of Marvel that they hold. The deal is valued at $50 per Marvel share, more than a 29% premium, based on Friday's closing price.
"We believe that adding Marvel to Disney's unique portfolio of brands provides significant opportunities for long-term growth and value creation," said Disney Chief Executive Robert Iger, in a statement.
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