Marvel sets vote on Disney takeover for Dec. 31

AP News
Posted: Dec 02, 2009 9:12 AM

Marvel Entertainment Inc. said it will hold a special meeting of shareholders in New York on Dec. 31 to allow a vote on its planned takeover by The Walt Disney Co.

Stockholders on record as of Nov. 23 will be able to vote at the meeting.

Disney, the Burbank, Calif.-based entertainment company, is offering $4 billion in cash and stock for Marvel, with its slate of superhero characters.

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