Spider Man and Mickey Mouse are now family! Disney has just purchased Marvel Comics for $4 billion in cash and stock. Under the deal, Disney will acquire 5000 Marvel characters, like Iron Man, Spider-Man, and the Fantastic Four. Many of them were created by comic book legend Stan Lee.
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 percent, to $48.82 shortly after the market opened. Disney shares fell 47 cents, or 1.8 percent, to $26.37.
The last big acquisition Disney made was in 2006 when they bought Pixar for over $7 billion.
Disney CEO Robert Iger says the latest acquisition combines Marvel's "strong global brand and world-renowned library of characters" with Disney's "unparalleled global portfolio of entertainment properties" and ability to maximize value across multiple platforms and territories.
Does this mean comic book movies are about to get a whole lot more family oriented? We sure hope not! We like our comic book bad guys just the way they are!