Walt Disney yesterday unveiled a surprise $4bn bid for Marvel Entertainment, ending a deal-making drought in the media sector and paving the way for Iron Man, Spider-Man and Captain America to be united with Mickey Mouse and Hannah Montana.
The agreed deal is structured as a cash-and-stock offer, worth $50 a share based on Disney's closing share price on Friday.
Shares in Marvel jumped $10.35 or 27 per cent to a record high of $49 on the announcement. Disney's shares were 1.6 per cent lower at $26.40.
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